Common use of Allocation of Realized Losses Clause in Contracts

Allocation of Realized Losses. (a) 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All On the 15th day of each calendar month (or, if such 15th day is not a Business Day, then on the next succeeding Business Day), the Servicer shall determine as to each Mortgage Loan and REO Property the information listed on Exhibit L hereto (or in such form and format that the Servicer and Trustee mutually agree to). The information described in the preceding sentence that is to be supplied by the Servicer shall be evidenced by a written report delivered to the Trustee together with the remittance report described in Section 4.03(a) hereof. If on any Distribution Date after giving effect to all Realized Losses on incurred with respect to the Group 1 Mortgage Loans allocated during or prior to any Regular Certificate the related Due Period and distributions of principal with respect to the Group 1 Certificates on such Distribution Date, the aggregate Class Principal Amount of the Group 1 Certificates exceeds the Group 1 Aggregate Collateral Balance on such date, the amount of such excess shall be allocated by the Trustee on each such Distribution Date as follows: first, as provided in Section 1.03, to the interest accrued on Class MF-6 Certificates, until the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Principal Amount thereof has been reduced to zero; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A MF-5 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Class Principal Balance Amount thereof has been reduced to zero; third, to the Class M-9 MF-4 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fourth, to the Class M-8 MF-3 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fifth, to the Class M-7 MF-2 Certificates, until the Certificate Class Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance Amount thereof has been reduced to zero; and eleventhsixth, to the Class M-1 MF-1 Certificates, until the Certificate Class Principal Balance Amount 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any REMIC II Regular Certificate Interest pursuant to Section 5.05(c) on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the CE Interest and Class A CE Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, fourth to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eightheigth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero and twelfth, to the Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Interest and Class A C Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 B-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zerozero and thirteenth, to the Class A Certificates. 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. 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03to amounts of Excess Cashflow, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of Overcollateralization Amount, third, to the Class A M-12 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfourth, to the Class M-11 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthseventh, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fiftheighth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthninth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventhtenth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eightheleventh, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtwelfth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenththirteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhfourteenth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof of each such Class 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 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. In no event shall Realized Losses be allocated to the Class A-1A Certificates, the Group II Certificates or the Class I Certificates. Any allocation of Realized Losses to a Mezzanine Certificate 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 Certificate shall . Any Subsequent Recoveries will be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made allocated to the Certificate Principal Balances Overcollateralization Amount and Mezzanine Certificates in the reverse order of the Class A Certificates Realized Loss allocation set forth in the preceding paragraph, to the extent of the Realized Loss allocated to each related Certificate (or in the Class P Certificatescase of the Overcollateralization Amount, to the extent of the Realized Loss allocated to such Overcollateralization Amount).

Allocation of Realized Losses. (a) All Realized Losses on the Group I Mortgage Loans allocated to any REMIC III Group I Regular Certificate Interest pursuant to Section 5.05(c) shall be allocated by the Trustee on each Distribution Date as follows: first, to Excess Spread with respect to Loan Group I as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Group I Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the I-CE Interest and Class A I-CE Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 I-M-11 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 I-M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 I-M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 I-M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 I-M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 I-M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 I-M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class I-M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eleventh, to the Class I-M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; twelfth, to the Class I-M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and elevenththirteenth, to the Class I-M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and fourteenth, to the Class or Classes of Class I-A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero. All Realized Losses on the Group II Mortgage Loans allocated to any REMIC III Group II Regular Interest pursuant to Section 5.05(d) shall be allocated by the Trustee on each Distribution Date as follows: first, to Excess Spread with respect to Loan Group II as part of the payment in respect of the Group II Extra Principal Distribution Amount for such Distribution Date; second, to the Class II-CE Interest and Class II-CE Certificates, until the Certificate Principal Balance or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class II-M-11 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class II-M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class II-M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class II-M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class II-M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class II-M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class II-M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class II-M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eleventh, to the Class II-M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; twelfth, to the Class II-M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; thirteenth, to the Class II-M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourteenth, to the related Class or Classes of Class II-A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; and fifteenth, to the unrelated Class or Classes of Class II-A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any REMIC II Regular Certificate Interest pursuant to Section 5.05(c) on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the CE Interest and Class A CE Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, to the Class M-1 or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balance Balances thereof has have 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any REMIC II Regular Certificate Interest pursuant to Section 5.05(c) on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the CE Interest and Class A CE Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, to the related Class M-1 or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; and twelfth, to the unrelated Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; provided, however, any such Realized Losses otherwise allocable to the Class II-A-1 Certificates shall be allocated first to the Class II-A-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero, and then to the Class II-A-1 Certificates. 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. 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03to Net Monthly Excess Cashflow; second, to Net Swap Payments received under the interest accrued on Interest Rate Swap Agreement; third, to amounts received under the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Interest Rate Cap Agreement; secondfourth, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfifth, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthseventh, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fiftheighth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthninth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventhtenth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eightheleventh, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtwelfth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenththirteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; zero and eleventhfourteenth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate Certificates shall be made first by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(c)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee Securities Administrator on each Distribution Date as follows: first, to Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Interest and Class A C Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the related Class M-2 of Class A Certificates, until the Certificate Principal Balance thereof has been reduced reducted to zero; and eleventhfourteenth, to the unrelated Class M-1 of Class A 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03to Net Monthly Excess Cashflow, to through a distribution of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for that Distribution Date; second, to the Class C Certificates (determined for purposes of this Section 4.07 as the amount Overcollateralized Amount by which (A) the aggregate Uncertificated Principal Balance a reduction of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A C Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 B Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; , fourth, to the Class M-8 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; , fifth, to the Class M-7 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; , sixth, to the Class M-6 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; , seventh, to the Class M-5 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; , eighth, to the Class M-4 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; , ninth, to the Class M-3 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; , tenth, to the Class M-2 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; and , eleventh, to the Class M-1 Certificates, until in reduction of the Certificate Principal Balance thereof thereof, until reduced to zero, and twelfth, to the Class A Certificates, on a pro rata basis, in reduction of the Certificate Principal Balance of each such Class, until reduced to zero, provided, however, that (i) any Realized Losses on the Mortgage Loans that would otherwise be allocated to the Class A-1 Certificates will instead be allocated to the Class A-1M Certificates, until its certificate principal balance has been reduced to zerozero and (ii) any Realized Losses allocable to the Class A-1W Certificates will be covered by the Certificate Guaranty Insurance Policy. 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. Any allocation of Realized Losses to a Mezzanine an Offered Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated; any . Any allocation of Realized Losses to a Class C Certificate shall be made by first, reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(e)(vii), and second, 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 A Certificates or the Class P Certificates.

Allocation of Realized Losses. (aA) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modifications, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due in the month in which such Distribution Date occurs. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. 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 the Excess Cash Flow as part of the Principal Distribution Amount as provided in Section 1.034.02(c), to the interest accrued on extent of the Class C Certificates after Excess Cash Flow for such Distribution Date, second, in reduction of the allocation thereto of certain interest shortfalls as provided in Section 1.03Overcollateralization Amount, until such amount has been reduced to zero; secondthird, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A B Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfourth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthfifth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthsixth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthseventh, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventheighth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthninth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tentheleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses to be allocated ; thirteenth, 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 A-3 Certificates, on such Distribution Date. Any allocation of Realized Losses to a Mezzanine Certificate on any Distribution Date shall be made by reducing until the Certificate Principal Balance thereof by has been reduced to zero; and fourteenth, to the amount so allocated; any allocation of 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)(v). No allocations of any Realized Losses shall be made to A-2 Certificates, until the Certificate Principal Balances of the Class A Certificates or the Class P CertificatesBalance thereof has been reduced to zero.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any REMIC II Regular Certificate Interest pursuant to Section 5.05(c) on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; second, to the Class C Certificates (determined for purposes of this Section 4.07 as CE Interest and Class CE Certificates, until the amount by which (A) the aggregate Certificate Principal Balance or Uncertificated Principal Balance of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of thereof, as applicable, has been reduced to zero; third, to the Class A M-10 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfourth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthfifth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthsixth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthseventh, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventheighth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthninth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tentheleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero and thirteenth, to the Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee Securities Administrator on each Distribution Date as follows: first, as provided in Section 1.03, to Excess Spread through an increased distribution of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Interest and Class A C Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 B-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 B-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero and eleventh, to the Class A Certificates, on a pro rata basis, in reduction of the Certificate Principal Balances thereof, until reduced to zero; provided, however, any Realized Losses otherwise allocable to the Class A-1 Certificates will first be allocated to the Class A-3 Certificates, until the Certificate Principal Balance of that class has been reduced to zero, and then to the Class A-1 Certificates. 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. 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any REMIC II Regular Certificate Interest pursuant to Section 6.05(c) on the Mortgage Loans shall be allocated by the Trustee Securities Administrator on each Distribution Date as follows: first, to Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; second, to the Class C Certificates (determined for purposes of this Section 4.07 as CE Interest and Class CE Certificates, until the amount by which (A) the aggregate Certificate Principal Balance or Uncertificated Principal Balance of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of thereof, as applicable, has been reduced to zero; third, to the Class A M-10 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfourth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthfifth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthsixth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthseventh, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventheighth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthninth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tentheleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and thirteenth, to the Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 Net Swap Payment received under the Interest Rate Swap Agreement after payment of Section 4.01(e)(i) through (iv); third, to the Class C Certificates (determined for purposes of this Section 4.07 section 4.08 as the amount by which (A) the aggregate Uncertificated Principal Balance of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds exceed (B) the aggregate Certificate Principal Balance Balances of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 M-11 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-10 Certificates, sixth, to the Class M-9 Certificates, seventh, to the Class M-8 Certificates, eighth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthninth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventhtenth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eightheleventh, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtwelfth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenththirteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; Certificates and eleventhfourteenth, to the Class M-1 Certificates, Certificates until the their Certificate Principal Balance thereof has been Balances are 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (aA) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modifications, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due in the month in which such Distribution Date occurs. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. 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 the Excess Cash Flow as part of the Principal Distribution Amount as provided in Section 1.034.02(c), to the interest accrued on extent of the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Excess Cash Flow for such Distribution Date; second, to Net Swap Payments received by 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Supplemental Interest Trust on that Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to in reduction of the Class M-9 CertificatesOvercollateralization Amount, until the Certificate Principal Balance thereof such amount has been reduced to zero; fourth, to the Class M-8 M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eleventh, to the Class A-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 A-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All No Realized Losses to will 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. 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P A-1 Certificates.

Allocation of Realized Losses. (a) 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 1.03to amounts of Excess Cashflow, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A O Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; zero and eleventhtenth, 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 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. In no event shall Realized Losses be allocated to the Class A Certificates. Any allocation of Realized Losses to a Class O Certificate, a Class B Certificate, or the 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 Certificate shall . Any Subsequent Recoveries will be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made allocated to the Certificate Principal Balances Class O Certificates, Class B Certificates, and Mezzanine Certificates in the reverse order of the Class A Certificates or Realized Loss allocation set forth in the Class P Certificatespreceding paragraph, to the extent of the Realized Loss allocated to each related Certificate.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any REMIC II Regular Certificate Interest pursuant to Section 5.05(c) shall be allocated by the Trustee on each Distribution Date as follows: first, as provided in Section 1.03, to Excess Spread through an increased distribution of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the CE Interest and Class A CE Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; twelfth, to the related Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; and thirteenth, to the unrelated Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03to Net Monthly Excess Cashflow; second, to Net Swap Payments received under the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Interest Rate Swap Agreement; secondthird, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfourth, to the Class M-11 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthseventh, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fiftheighth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthninth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventhtenth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eightheleventh, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtwelfth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenththirteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; zero and eleventhfourteenth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate Certificates shall be made first by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(d)(iv). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03to Net Monthly Excess Cashflow, to through a distribution of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for that Distribution Date; second, to the Class C Certificates (determined for purposes of this Section 4.07 as the amount Overcollateralized Amount by which (A) the aggregate Uncertificated Principal Balance a reduction of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A C Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 B Certificates, until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, ninth to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All ; thereafter, any Realized Losses to on the Mortgage Loans will be allocated on any Distribution Date first to the Class AM Certificates until its Certificate Principal Balance has been reduced to zero (provided, however, that any Realized Loss applied to the Class AM Certificates will be covered by the Certificate Guaranty Insurance Policy) and second to the Class A1-A, Class A1-B and Class A1-C Certificates, on a pro rata basis, based on 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 Lossesthereof, in each case to be allocated to such Class in reduction 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificatesthereof, until reduced to zero.

Allocation of Realized Losses. (aA) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modifications, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due in the month in which such Distribution Date occurs. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. 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 payments made pursuant to the Yield Maintenance Agreement, if any, in accordance with Section 4.02(i), second, to the Excess Cash Flow as part of the Principal Distribution Amount as provided in Section 1.034.02(c), 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 extent of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding Excess Cash Flow for such Distribution Date), third, in reduction of the Overcollateralization Amount, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 Certificates, until the Certificate Principal Balance thereof such amount has been reduced to zero; fourth, to the Class M-8 M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, for Realized Losses on the Group I Loans, to the Class M-1 I-A-3, Class I-A-2 and Class I-A-1 Certificates, in that order, until the Certificate Principal Balances thereof have been reduced to zero, for Realized Losses on the Group II Loans, to the Class II-A-3, Class II-A-2 and Class II-A-1 Certificates, in that order, until the Certificate Principal Balances thereof have been reduced to zero and for Realized Losses on the Group III Loans, first to the Class III-A-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses zero and second, on a pro rata basis, to be allocated to the Class III-A-1, Class III-A-2, Class III-A-3 and Class III-A-4 Certificates until the Certificate Principal Balances of all Classes on any Distribution Date shall be so allocated after the actual distributions thereof have been reduced 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. 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificateszero.

Allocation of Realized Losses. (a) All Realized Losses on the Group I Mortgage Loans allocated to any REMIC III Group I Regular Certificate Interest pursuant to Section 5.05(c) shall be allocated by the Trustee on each Distribution Date as follows: first, to Excess Spread with respect to Loan Group I as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Group I Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the I-CE Interest and Class A I-CE Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 I-M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 I-M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 I-M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 I-M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 I-M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 I-M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 I-M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class I-M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eleventh, to the Class I-M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class I-M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and, thirteenth, to the Class or Classes of Class I-A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero. All Realized Losses on the Group II Mortgage Loans allocated to any REMIC III Group II Regular Interest pursuant to Section 5.05(d) shall be allocated by the Trustee on each Distribution Date as follows: first, to Excess Spread with respect to Loan Group II as part of the payment in respect of the Group II Extra Principal Distribution Amount for such Distribution Date; second, to the Class II-CE Interest and Class II-CE Certificates, until the Certificate Principal Balance or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class II-M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class II-M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class II-M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class II-M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class II-M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class II-M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class II-M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class II-M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eleventh, to the Class II-M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; twelfth, to the Class II-M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; thirteenth, to the related Class or Classes of Class II-A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; and fourteenth, to the unrelated Class or Classes of Class II-A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modifications, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due in the month in which such Distribution Date occurs. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. 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 the Excess Cash Flow as part of the Principal Distribution Amount as provided in Section 1.034.02(c), 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 extent of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding Excess Cash Flow for such Distribution Date), second, in reduction of the Overcollateralization Amount, until the Certificate Principal Balance thereof such amount has been reduced to zero; third, to the Class M-9 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhseventh, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03to amounts of Excess Cashflow, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of Overcollateralization Amount, third, to the Class A M-11 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfourth, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthsixth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthseventh, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixtheighth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventhninth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthtenth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; nintheleventh, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenthtwelfth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and elevenththirteenth, 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 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. In no event shall Realized Losses be allocated to the Class A-1A Certificates, the Group II Certificates or the Class I Certificates. 62 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 Certificate shall . Any Subsequent Recoveries will be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made allocated to the Certificate Principal Balances Mezzanine Certificates in the reverse order of the Class A Certificates or Realized Loss allocation set forth in the Class P Certificatespreceding paragraph, to the extent of the Realized Loss allocated to each related Certificate.

Allocation of Realized Losses. (a) All On the 15th day of each calendar month (or, if such 15th day is not a Business Day, then on the next succeeding Business Day), the Servicer shall determine as to each Mortgage Loan and REO Property the information listed on Exhibit L hereto (or in such form and format that the Servicer and Trustee mutually agree to). The information described in the preceding sentence that is to be supplied by the Servicer shall be evidenced by a written report delivered to the Trustee together with the remittance report described in Section 4.03(a) hereof. If on any Distribution Date after giving effect to all Realized Losses on incurred with respect to the Group 1 Mortgage Loans allocated during or prior to any Regular Certificate the related Due Period and distributions of principal with respect to the Group 1 Certificates on such Distribution Date, the aggregate Class Principal Amount of the Group 1 Certificates exceeds the Group 1 Aggregate Collateral Balance on such date, the amount of such excess shall be allocated by the Trustee on each such Distribution Date as follows: first, as provided in Section 1.03, to the interest accrued on Class MF-9 Certificates, until the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Principal Amount thereof has been reduced to zero; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A MF-8 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Class Principal Balance Amount thereof has been reduced to zero; third, to the Class M-9 MF-7 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fourth, to the Class M-8 MF-6 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fifth, to the Class M-7 MF-5 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; sixth, to the Class M-6 MF-4 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; seventh, to the Class M-5 MF-3 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; eighth, to the Class M-4 MF-2 Certificates, until the Certificate Class Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance Amount thereof has been reduced to zero; tenth, to the Class M-2 MF-1 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; and eleventh, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Interest and Class A C Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthzero;ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; twelfth, to the related Class of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; and thirteenth, to the unrelated Class of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee Securities Administrator on each Distribution Date as follows: first, as provided in Section 1.03to Excess Interest; second, to Net Swap Payments received under the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Interest Rate Swap Agreement; secondthird, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfourth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthfifth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthsixth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthseventh, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventheighth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthninth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tentheleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; zero and eleventhtwelfth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate Certificates shall be made first by reducing the amount otherwise payable distributable in respect thereof pursuant to Section 4.01(d)(v5.01(a)(III)(xvii). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Senior Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03to Net Monthly Excess Cashflow; second, to Net Swap Payments received under the interest accrued on Interest Rate Swap Agreement; third, to amounts received under the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Interest Rate Cap Agreement; secondfourth, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfifth, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthseventh, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fiftheighth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthninth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventhtenth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eightheleventh, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtwelfth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenththirteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; zero and eleventhfourteenth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate Certificates shall be made first by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(d)(iv). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03Net Monthly Excess Cashflow; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourtheighth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthninth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthtenth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventheleventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthtwelfth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninththirteenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenthfourteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; zero and eleventhfifteenth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate Certificates shall be made first by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(d)(iv). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any REMIC I Regular Certificate Interest pursuant to Section 5.05(b) on the Mortgage Loans 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 1.03Excess Spread; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A CE Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to related Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; and eleventh, to the unrelated Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; provided, however, any such Realized Losses otherwise allocable to the Class M-2 II-A-1 Certificates shall be allocated first to the Class II-A-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; , and eleventh, then to the Class M-1 II-A-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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any REMIC II Regular Certificate Interest pursuant to Section 5.05(c) on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the CE Interest and Class A CE Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the related Class M-2 or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; and eleventh, to the unrelated Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; provided, however, any such Realized Losses otherwise allocable to the Class II-A-1 Certificates shall be allocated first to the Class II-A-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; , and eleventh, then to the Class M-1 II-A-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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All On any Distribution Date, (x) the applicable AP Percentage of the principal portion of each Realized Losses on the Loss (other than any Excess Loss) in respect of a Mortgage Loans Loan in each Mortgage Pool will be allocated to the related Class of Principal Only Certificates until the Class Principal Amount thereof has been reduced to zero; and (y) the applicable Non-AP Percentage of the principal portion of each Realized Loss (other than any Regular Certificate Excess Loss) in respect of a Mortgage Loan shall be allocated by in the Trustee on each Distribution Date as followsfollowing order of priority: first, as provided in Section 1.03, to the interest accrued on Class B6 Certificates, until the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Principal Amount thereof has been reduced to zero; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A B5 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Class Principal Balance Amount thereof has been reduced to zero; third, to the Class M-9 B4 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fourth, to the Class M-8 B3 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fifth, to the Class M-7 B2 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; sixth, to the Class M-6 B1 Certificates, until the Certificate Class Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance Amount thereof has been reduced to zero; and eleventhseventh, to the Classes of Senior Certificates of the related Certificated Group, pro rata, in accordance with their Class M-1 CertificatesPrincipal Amounts; provided, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses to be that any such loss 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 Accrual Certificates shall be allocated (subject to Section 5.03(c)) on the Certificate basis of the lesser of (x) the Class Principal Balance of such Class Amount thereof immediately prior to the relevant applicable Distribution Date, before reduction Date and (y) the Class Principal Amount thereof on the Closing Date (as reduced by any Realized Losses, in each case to be Losses previously 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(vthereto). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Interest and Class A C Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 B-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; thirteenth, to the related Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; and fourteenth, to the unrelated Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Any Realized Losses on the Mortgage Loans will be allocated on any Distribution Date, first, to the Class M-8 Certificates, in reduction of the Certificate Principal Balance thereof, until reduced to zero, second, to the Class M-7 Certificates, in reduction of the Certificate Principal Balance thereof, until reduced to zero, third, to the Class M-6 Certificates, in reduction of the Certificate Principal Balance thereof, until reduced to zero, fourth, to the Class M-5 Certificates, in reduction of the Certificate Principal Balance thereof, until reduced to zero, fifth, to the Class M-4 Certificates, in reduction of the Certificate Principal Balance thereof, until reduced to zero, sixth, to the Class M-3 Certificates, in reduction of the Certificate Principal Balance thereof, until reduced to zero, seventh, to the Class M-2 Certificates, in reduction of the Certificate Principal Balance thereof, until reduced to zero, and eighth, to the Class M-1 Certificates, in reduction of the Certificate Principal Balance thereof, until reduced to zero. Thereafter, any remaining Realized Losses with respect to the Group I Loans will be allocated on any Distribution Date, first, to the Class I-A-3 Certificates, in reduction of the Certificate Principal Balance thereof, until reduced to zero, and second, pro rata, to the Class I-A-2-2 Certificates, and the Class I-A-2-1 Certificates, in each case, in reduction of the Certificate Principal Balance thereof, until reduced to zero. Any remaining Realized Losses with respect to the Group II Loans will be allocated on any Distribution Date, first, pro rata, to the Class II-A-3-2 Certificates, and Class II-A-3-1 Certificates, in each case, in reduction of the Certificate Principal Balance thereof, until reduced to zero, and second, to the Class II-A-2 Certificates, in reduction of the Certificate Principal Balance thereof, until reduced to zero. Any remaining Realized Losses with respect to the Group III Loans will be allocated on any distribution date, first, pro rata, to the Class III-A-3-2 Certificates and Class III-A-3-1 Certificates, in each case, in reduction of the Certificate Principal Balance thereof, until reduced to zero, and second, to the Class III-A-2 Certificates, in reduction of the Certificate Principal Balance thereof, until reduced to zero. Any allocation of a Realized Loss to a Certificate will be made by reducing the Certificate Principal Balance thereof by the amount so allocated as of the Distribution Date in the month following the calendar month in which such Realized Loss was incurred. If, after taking into account Subsequent Recoveries, the amount of a Realized Loss is reduced, the amount of such Subsequent Recoveries will be applied to increase the Certificate Principal Balance of the Class M Certificates with the highest payment priority to which Realized Losses have been allocated, and then to increase the Certificate Principal Balance of the Class A 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 Certificates. The amount of any remaining Subsequent Recoveries will be applied to increase the Certificate Principal Balance of the Class of Certificates with the next highest payment priority, up to the amount of such Realized Losses previously allocated to that Class of Certificates, and so on. Holders of the Certificates will not be entitled to any payment in respect of any Accrued Certificate 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 applied to the Certificate Principal Balance of each Certificate of such Class in accordance with its respective percentage interest. On each Distribution Date, if the aggregate Certificate Principal Balances of all Classes of the Class A Certificates and Class M Certificates exceeds the Aggregate Stated Principal Balances of the Mortgage Loans in Loan Group I, Loan Group II and Loan Group III after giving effect to distributions of principal and the allocation of all losses to these Certificates on that Distribution Date, that excess will be deemed a principal loss and will be allocated to the most junior Class of Class M Certificates then outstanding. With respect to the REMIC 1 Regular Certificate Interests, all Realized Losses on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, as provided in Section 1.03, to Uncertificated Accrued Interest payable to the interest accrued on REMIC 1 Regular Interest LT-AA and REMIC 1 Regular Interest LT-ZZ up to an aggregate amount equal to the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03REMIC 1 Interest Loss Allocation Amount, 98% and 2%, respectively; 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 Balances of REMIC 1 Regular Interest LT-AA and REMIC 1 Regular Interest LT-ZZ up to an aggregate amount equal to the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A CertificatesLoss Allocation Amount, the Mezzanine Certificates 98% and the Class P Certificates immediately preceding such Distribution Date)2%, until the Certificate Principal Balance thereof has been reduced to zerorespectively; third, to the Class M-9 CertificatesUncertificated Principal Balances of REMIC 1 Regular Interest LT-AA, REMIC 1 Regular Interest LT-M8 and REMIC 1 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Certificate Uncertificated Principal Balance thereof of REMIC 1 Regular Interest LT-M8 has been reduced to zero; fourth, to the Class M-8 CertificatesUncertificated Principal Balances of REMIC 1 Regular Interest LT-AA, REMIC 1 Regular Interest LT-M7 and REMIC 1 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Certificate Uncertificated Principal Balance thereof of REMIC 1 Regular Interest LT-M7 has been reduced to zero; fifth, to the Class M-7 CertificatesUncertificated Principal Balances of REMIC 1 Regular Interest LT-AA, REMIC 1 Regular Interest LT-M6 and REMIC 1 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Certificate Uncertificated Principal Balance thereof of REMIC 1 Regular Interest LT-M6 has been reduced to zero; sixth, to the Class M-6 CertificatesUncertificated Principal Balances of REMIC 1 Regular Interest LT-AA, REMIC 1 Regular Interest LT-M5 and REMIC 1 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Certificate Uncertificated Principal Balance thereof of REMIC 1 Regular Interest LT-M5 has been reduced to zero; seventh, to the Class M-5 CertificatesUncertificated Principal Balances of REMIC 1 Regular Interest LT-AA, REMIC 1 Regular Interest LT-M4 and REMIC 1 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Certificate Uncertificated Principal Balance thereof of REMIC 1 Regular Interest LT-M4 has been reduced to zero; eighth, to the Class M-4 CertificatesUncertificated Principal Balances of REMIC 1 Regular Interest LT-AA, REMIC 1 Regular Interest LT-M3 and REMIC 1 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Certificate Uncertificated Principal Balance thereof of REMIC 1 Regular Interest LT-M3 has been reduced to zero; ninth, to the Class M-3 CertificatesUncertificated Principal Balances of REMIC 1 Regular Interest LT-AA, REMIC 1 Regular Interest LT-M2 and REMIC 1 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Certificate Uncertificated Principal Balance thereof of REMIC 1 Regular Interest LT-M2 has been reduced to zero; tenth, to the Class M-2 CertificatesUncertificated Principal Balances of REMIC 1 Regular Interest LT-AA, REMIC 1 Regular Interest LT-M1 and REMIC 1 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Certificate Uncertificated Principal Balance thereof of REMIC 1 Regular Interest LT-M1 has been reduced to zero; and eleventh, (a) with respect to Realized Losses on the Group 1 Loans, first, to the Class M-1 CertificatesUncertificated Principal Balances of REMIC 1 Regular Interest LT-AA, REMIC 1 Regular Interest LT-I-A-3 and REMIC 1 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Certificate Uncertificated Principal Balance thereof of REMIC 1 Regular Interest LT-I-A-3 has been reduced to zero. All Realized Losses to be allocated , second, to the Certificate Uncertificated Principal Balances of all Classes on any Distribution Date shall be so allocated after REMIC 1 Regular Interest LT-AA, REMIC 1 Regular Interest LT-I-A-2-2 and REMIC 1 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the actual distributions to be made on such date as provided above. All references above to the Certificate Uncertificated Principal Balance of any Class of Certificates shall be REMIC 1 Regular Interest LT-I-A-2-2 has been reduced to zero and third, to the Certificate Uncertificated Principal Balances of REMIC 1 Regular Interest LT-AA, REMIC 1 Regular Interest LT-I-A-2-1 and REMIC 1 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of such Class immediately prior REMIC 1 Regular Interest LT-I-A-2-1 has been reduced to zero and (b) with respect to Realized Losses on the Group 2 Loans, first, to the relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Uncertificated Principal Balances of REMIC 1 Regular Interest LT-AA, REMIC 1 Regular Interest LT-II-A-3-2 and REMIC 1 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Class A Certificates or Uncertificated Principal Balance of REMIC 1 Regular Interest LT-II-A-3-2 has been reduced to zero; second, to the Class P CertificatesUncertificated Principal Balances of REMIC 1 Regular Interest LT-AA, REMIC 1 Regular Interest LT-II-A-3-1 and REMIC 1 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT-II-A-3-1 has been reduced to zero, and third, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT-AA, REMIC 1 Regular Interest LT-II-A-2 and REMIC 1 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT-II-A-2 has been reduced to zero.

Allocation of Realized Losses. (a) All On the 15th day of each calendar month (or, if such 15th day is not a Business Day, then on the next succeeding Business Day), the Servicer shall determine as to each Mortgage Loan and REO Property the information listed on Exhibit L hereto (or in such form and format that the Servicer and Securities Administrator mutually agree to). The information described in the preceding sentence that is to be supplied by the Servicer shall be evidenced by a written report delivered to the Securities Administrator together with the remittance report described in Section 4.03(a) hereof. If on any Distribution Date after giving effect to all Realized Losses on incurred with respect to the Group 1 Mortgage Loans allocated during or prior to any Regular Certificate the related Due Period and distributions of principal with respect to the Group 1 Certificates on such Distribution Date, the aggregate Class Principal Amount of the Group 1 Certificates exceeds the Group 1 Aggregate Collateral Balance on such date, the amount of such excess shall be allocated by the Trustee Securities Administrator on each such Distribution Date as follows: first, as provided in Section 1.03, to the interest accrued on Class MF-6 Certificates, until the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Principal Amount thereof has been reduced to zero; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A MF-5 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Class Principal Balance Amount thereof has been reduced to zero; third, to the Class M-9 MF-4 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fourth, to the Class M-8 MF-3 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fifth, to the Class M-7 MF-2 Certificates, until the Certificate Class Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance Amount thereof has been reduced to zero; and eleventhsixth, to the Class M-1 MF-1 Certificates, until the Certificate Class Principal Balance Amount 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modification, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due during the related Due Period. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses on the Mortgage Loans allocated to any Regular Certificate or Excess Fraud Losses, shall be allocated by the Trustee on each Distribution Date as follows: first, as provided in Section 1.03, to the interest accrued on Class B-3 Certificates until the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Certificate Principal Balance thereof has been reduced to zero; second, to the Class C B-2 Certificates (determined for purposes of this Section 4.07 as the amount by which (A) the aggregate Uncertificated Principal Balance of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 Certificates, B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 Certificates, M-9 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 Certificates, M-8 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, M-7 Certificates until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, M-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; eightheight, to the Class M-4 Certificates, M-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, M-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, to the Class M-1 Certificates, M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero. All ; twelfth, to the Class M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and, thereafter, such Realized Losses shall be allocated to all the remaining Senior Certificates, on a pro rata basis; provided, however, that after the Credit Support Depletion Date, Realized Losses otherwise allocable to the Class A-1, Class A-2 and Class A-3 Certificates will be allocated to the Class A-4 Certificates until the Certificate Principal Balance of the Class A-4 Certificates has been reduced to zero, and, thereafter, Realized Losses otherwise allocable to the Class A-1 Certificates and Class A-2 Certificates will be allocated to the Class A-3 Certificates until the Certificate Principal Balance of the Class A-3 Certificates has been reduced to zero. The Senior Percentage of any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses or Extraordinary Losses on the Mortgage Loans shall be allocated to the Senior Certificates on a pro rata basis. The remainder of such Realized Losses will be allocated among the Class M Certificates and Class B Certificates, on a pro rata basis. On any Distribution Date, Realized Losses will be allocated as set forth herein before distributions of principal on the Certificates as set forth herein. 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 of all Classes on any Distribution Date shall be so allocated after the actual prior to giving effect to distributions to be made on such date Distribution Date in the case of the principal portion of a Realized Loss or based on the Accrued Certificate Interest thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Except as provided above. All references above in the following sentence, any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Certificate Principal Balance of any a 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. 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, which allocation shall be deemed to have occurred on such Distribution Date; any provided that no such reduction shall reduce the aggregate Certificate Principal Balance of the Certificates below the aggregate Stated Principal Balance of the Mortgage Loans. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class C Certificate the Subordinate Certificates then outstanding with the Lowest Priority shall be made by reducing operation of the definition of "Certificate Principal Balance" and by operation of the provisions of Section 4.02(a). Allocations of the interest portions of Realized Losses (other than any interest rate reduction resulting from a Servicing Modification) shall be made in proportion to the amount otherwise payable in respect thereof pursuant to of Accrued Certificate Interest and by operation of the definition of "Accrued Certificate Interest" and by operation of the provisions of Section 4.01(d)(v4.02(a). No allocations Allocations of any the interest portion of a Realized Loss resulting from an interest rate reduction in connection with a Servicing Modification shall be made by operation of the provisions of Section 4.02(a). Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.02(a). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses shall be made to allocated among the Certificate Principal Balances Uncertificated REMIC I Regular Interests as specified in the definition of the Class A Certificates or the Class P CertificatesREMIC I Realized Losses.

Allocation of Realized Losses. (a) 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 1.03to related Net Monthly Excess Cashflow, through a distribution of the related Extra Principal Distribution Amount for that Distribution Date; second, to the interest accrued unrelated Net Monthly Excess Cashflow; third, to the related Overcollateralized Amount by a reduction of the Certificate Principal Balance of the related Class C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, if such Realized Loss is on a Group 1 Loan, first, to the Class C Certificates after 1-B Certificates, until the allocation thereto of certain interest shortfalls as provided in Section 1.03Certificate Principal Balance thereof has been reduced to zero; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A 1-M-8 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 1-M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 1-M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 1-M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 1-M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 1-M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class 1-M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, ninth to the Class 1-M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All ; thereafter, any Realized Losses to on the Group 1 Loans will be allocated on any Distribution Date to the Class 1-A1-A, Class 1-A1-B, Class 1-A1-C and Class 1-AM Certificates, pro rata, based on 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 Lossesthereof, in each case to be allocated to such Class in reduction 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of thereof, until reduced to zero, provided that any such Realized Loss otherwise allocable to the Class 1-A1-A, Class 1-A1-B and Class 1-A1-C Certificates shall be first allocated to the Class 1-AM Certificates, until reduced to zero, and if such Realized Loss is on a Group 2 Loan, to the Class 2-A Certificates; provided, however, that any Realized Loss applied to the Class 2-A Certificates or will be covered by the Class P CertificatesCertificate Guaranty Insurance Policy.

Allocation of Realized Losses. (aA) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modifications, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due in the month in which such Distribution Date occurs. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. 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 the Excess Cash Flow as part of the Principal Distribution Amount as provided in Section 1.034.02(c), 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 extent of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding Excess Cash Flow for such Distribution Date), second, in reduction of the Overcollateralization Amount, until the Certificate Principal Balance thereof such amount has been reduced to zero; third, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses to be allocated ; twelfth, 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 A-3 Certificates, on such Distribution Date. Any allocation of Realized Losses to a Mezzanine Certificate on any Distribution Date shall be made by reducing until the Certificate Principal Balance thereof by has been reduced to zero; and thirteeenth, to the amount so allocated; any allocation of 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)(v). No allocations of any Realized Losses shall be made to A-2 Certificates, until the Certificate Principal Balances of the Class A Certificates or the Class P CertificatesBalance thereof has been reduced to zero.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee Securities Administrator on each Distribution Date as follows: first, as provided in Section 1.03, to Excess Spread through an increased distribution of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Interest and Class A C Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 B-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero and eleventh, to the Class A Certificates, on a pro rata basis, in reduction of the Certificate Principal Balances thereof, until reduced to zero; provided, however, any Realized Losses otherwise allocable to the Class A-1 Certificates will first be allocated to the Class A-2 Certificates, until the Certificate Principal Balance of that class has been reduced to zero, and then to the Class A-1 Certificates. 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. 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03Net Monthly Excess Cashflow; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthninth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthtenth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixtheleventh, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventhtwelfth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighththirteenth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthfourteenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenthfifteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; zero and eleventhsixteenth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate Certificates shall be made first by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(d)(iv). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 Net Swap Payment received under the Interest Rate Swap Agreement after payment of Section 4.01(e)(i) and (ii) and Section 4.01(f)(i) and (ii); third, to the Class C Certificates (determined for purposes of this Section 4.07 section 4.08 as the amount by which (A) the aggregate Uncertificated Principal Balance of the REMIC 1 2 Regular Interests immediately preceding such Distribution Date exceeds exceed (B) the aggregate Certificate Principal Balance Balances of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfourth, to the Class M-11 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthseventh, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fiftheighth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthninth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventhtenth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eightheleventh, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtwelfth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenththirteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhfourteenth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03to amounts of Excess Cashflow, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A CertificatesOvercollateralization Amount, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 B-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and thirteenth, to the Class A-1B Certificates (only to the extent the Realized Losses occurred on the Group I Mortgage Loans), until the Certificate Principal Balance of each such Class 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 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. In no event shall Realized Losses be allocated to the Class A-1A Certificates, the Group II Certificates or the Class I Certificates. Any allocation of Realized Losses to a Class B Certificate, a Mezzanine Certificate or a Class A-1B 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 Certificate shall . Any Subsequent Recoveries will be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made allocated to the Certificate Principal Balances Overcollateralization Amount, Class B Certificates, Mezzanine Certificates and Class A-1B Certificates in the reverse order of the Class A Certificates Realized Loss allocation set forth in the preceding paragraph, to the extent of the Realized Loss allocated to each related Certificate (or in the Class P Certificatescase of the Overcollateralization Amount, to the extent of the Realized Loss allocated to such Overcollateralization Amount).

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee Trust Administrator on each Distribution Date as follows: first, as provided in Section 1.03to Net Monthly Excess Cashflow; second, to Net Swap Payments received under the interest accrued on Interest Rate Swap Agreement; third, to amounts received under the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Interest Rate Cap Agreement; secondfourth, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfifth, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthseventh, to the Class M-8 CertificatesCertificates on a pro rata basis based on the Certificate Principal Balance of each such class, until the Certificate Principal Balance Balances thereof has have been reduced to zero; fiftheighth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthninth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventhtenth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eightheleventh, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtwelfth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenththirteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; zero and eleventhfourteenth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate Certificates shall be made first by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(c)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Senior Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any REMIC I Regular Certificate Interest pursuant to Section 5.05(c) on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 B-5 Certificates, until the Certificate Principal Balance Balances thereof has have been reduced to zero; fourth, to the Class M-8 B-4 Certificates, until the Certificate Principal Balance Balances thereof has have been reduced to zero; fifth, to the Class M-7 B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and thirteenth, to the Class A 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Group I Mortgage Loans allocated to any REMIC III Group I Regular Certificate Interest pursuant to Section 5.05(c) shall be allocated by the Trustee on each Distribution Date as follows: first, to Excess Spread with respect to Loan Group I as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Group I Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the I-CE Interest and Class A I-CE Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 I-M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 I-M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 I-M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 I-M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 I-M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 I-M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 I-M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class I-M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eleventh, to the Class I-M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class I-M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; thirteenth, to the related Class or Classes of Class I-A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; and fourteenth, to the unrelated Class or Classes of Class I-A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero. All Realized Losses on the Group II Mortgage Loans allocated to any REMIC III Group II Regular Interest pursuant to Section 5.05(d) shall be allocated by the Trustee on each Distribution Date as follows: first, to Excess Spread with respect to Loan Group II as part of the payment in respect of the Group II Extra Principal Distribution Amount for such Distribution Date; second, to the Class II-CE Interest and Class II-CE Certificates, until the Certificate Principal Balance or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class II-M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class II-M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class II-M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class II-M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class II-M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class II-M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class II-M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class II-M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eleventh, to the Class II-M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; twelfth, to the Class II-M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; thirteenth, to the Class or Classes of Class II-A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Prior to each Distribution Date, the Master Servicer, based solely on the information provided by the related Servicer, shall determine the amount of Realized Losses, if any, with respect to each Loan. Realized Losses on the Mortgage Loans allocated to for any Regular Certificate shall be allocated by the Trustee on each Distribution Date as follows: will first, as provided cause a reduction in Section 1.03Net Monthly Excess Cash Flow for that Distribution Date, 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 reduce the Class C Certificates (determined available Net Swap Payments from the Certificate Swap Provider, if any, for purposes of this Section 4.07 as that Distribution Date, and third cause a reduction in the amount by which (A) the aggregate Uncertificated Principal Balance of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine CE Certificates and the Class P Certificates immediately preceding such for that Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All 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, to exceed the aggregate Principal Balance of the Loans (including amounts on deposit in the Pre-Funding Account) as of the last day of the related Due Period, such excess will be allocated first, to the Certificate Principal Balances Class M-10 Certificates, second to the Class M-9 Certificates, third, Class M-8 Certificates, fourth, to the Class M-7 Certificates, fifth, to the Class M-6 Certificates, sixth, to the Class M-5 Certificates, seventh, to the Class M-4 Certificates; eighth, to the Class M-3 Certificates, ninth, to the Class M-2 Certificates; tenth, to the Class M-1 Certificates, eleventh, to the Class A-3 Certificates, twelfth to the Class A-2, Class A-6 and Class A-7 Certificates, on a pro rata basis, and thirteenth to the Class A-1, Class A-4 and Class A-5 Certificates, on a pro rata basis. In addition, to the extent the related Servicer receives Subsequent Recoveries with respect to any defaulted Loan, the amount of all Classes on any Distribution Date shall the Realized Loss with respect to that defaulted Loan will be so allocated after reduced to the actual distributions extent such Subsequent Recoveries are applied to be made on such date as provided above. All references above to reduce 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 on any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of Realized Losses to a Mezzanine 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; any allocated as of such Distribution Date after all distributions on such Distribution Date have been made. Any allocation of Realized Losses to a Class C Certificate CE Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.1(a)(iii)(i). No allocations of any 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 hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Any Subsequent Recoveries collected by the Servicers will be distributed as part of the Available Distribution Amount in accordance with the 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 will be increased, on a pro rata basis based on the related Allocated Realized Loss Amount with respect to the Class A Certificates or Certificates, and in order of seniority with respect to the Class P 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) 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 1.03Net Monthly Excess Cashflow; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthsixth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthseventh, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixtheighth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventhninth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthtenth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; nintheleventh, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenthtwelfth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and elevenththirteenth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(d)(xix). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (aA) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modifications, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due in the month in which such Distribution Date occurs. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. 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 the Excess Cash Flow as part of the Principal Distribution Amount as provided in Section 1.034.02(c), to the interest accrued on extent of the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Excess Cash Flow for such Distribution Date; second, to Net Swap Payments received by the Class C Certificates (determined for purposes of this Section 4.07 as the amount by which (A) the aggregate Uncertificated Principal Balance Supplemental Interest Trust on that Distribution Date; third, in reduction of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date)Overcollateralization Amount, until the Certificate Principal Balance thereof such amount has been reduced to zero; thirdfourth, to the Class M-9 B Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthfifth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthsixth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthseventh, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventheighth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthninth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tentheleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses to be allocated ; thirteenth, 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 A-3 Certificates, on such Distribution Date. Any allocation of Realized Losses to a Mezzanine Certificate on any Distribution Date shall be made by reducing until the Certificate Principal Balance thereof by has been reduced to zero; and fourteenth, to the amount so allocated; any allocation of 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)(v). No allocations of any Realized Losses shall be made to A-2 Certificates, until the Certificate Principal Balances of Balance thereof has been reduced to zero. No Realized Losses will be allocated to the Class A Certificates or the Class P A-1 Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee Securities Administrator on each Distribution Date as follows: first, to Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Interest and Class A C Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 B-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zerozero and thirteenth, to the Class A Certificates. 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. 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any REMIC II Regular Certificate Interest pursuant to Section 5.05(c) on the Mortgage Loans 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 1.03Excess Spread; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the CE Interest and Class A CE Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, to the related Class M-1 or Classes of Class A Certificates, on a PRO RATA basis, until the Certificate Principal Balances thereof have been reduced to zero; and twelfth, to the unrelated Class or Classes of Class A Certificates, on a PRO RATA basis, until the Certificate Principal Balances thereof have been reduced to zero; provided, however, any such Realized Losses otherwise allocable to the Class II-A-1 Certificates shall be allocated first to the Class II-A-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero, and then to the Class II-A-1 Certificates, and any such Realized Losses otherwise allocable to the Class III-A-1 Certificates shall be allocated first to the Class III-A-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero, and then to the Class III-A-1 Certificates. 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. 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any REMIC II Regular Certificate Interest pursuant to Section 6.05(c) shall be allocated by the Trustee on each Distribution Date as follows: first, as provided in Section 1.03, to Excess Spread through an increased distribution of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the CE Interest and Class A CE Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; twelfth, to the related Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero, provided, however, any Realized Losses otherwise allocable to the Class I-A-1 Certificates will first be allocated to the Class I-A-2 Certificates, until the Certificate Principal Balance of that Class has been reduced to zero, and then to the Class I-A-1 Certificates; and thirteenth, to the unrelated Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero, provided, however, any Realized Losses otherwise allocable to the Class I-A-1 Certificates will first be allocated to the Class I-A-2 Certificates, until the Certificate Principal Balance of that Class has been reduced to zero, and then to the Class I-A-1 Certificates. 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. 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee Trust Administrator on each Distribution Date as follows: first, as provided in Section 1.03to Net Monthly Excess Cashflow; second, to Net Swap Payments received under the interest accrued on Interest Rate Swap Agreement; third, to amounts received under the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Interest Rate Cap Agreement; secondfourth, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfifth, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthseventh, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fiftheighth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthninth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventhtenth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eightheleventh, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtwelfth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenththirteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; zero and eleventhfourteenth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate Certificates shall be made first by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(c)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Senior Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any REMIC II Regular Certificate Interest pursuant to Section 5.05(c) on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the CE Interest and Class A CE Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtenth, to the Class M-1 or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balance Balances thereof has have 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any REMIC II Regular Certificate Interest pursuant to Section 5.05(c) on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the CE Interest and Class A CE Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eleventh to the related Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; and eleventhtwelfth, to the unrelated Class M-1 or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; provided, however, any such Realized Losses otherwise allocable to the Class II-A-1 Certificates shall be allocated first to the Class II-A-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero, and then to the Class II-A-1 Certificates. 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. 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03to Net Monthly Excess Cashflow; second, to Net Swap Payments received under the interest accrued on Interest Rate Swap Agreement; third, to amounts received under the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Interest Rate Cap Agreement; secondfourth, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfifth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthsixth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthseventh, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixtheighth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventhninth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthtenth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; nintheleventh, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenthtwelfth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; zero and elevenththirteenth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate Certificates shall be made first by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(c)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03Net Monthly Excess Cashflow; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero fifth, to the Class B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourtheighth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthninth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthtenth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventheleventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthtwelfth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninththirteenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenthfourteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; zero and eleventhfifteenth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(d)(iv). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03Net Monthly Excess Cashflow; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero fifth, to the Class B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthninth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthtenth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixtheleventh, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventhtwelfth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighththirteenth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthfourteenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenthfifteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; zero and eleventhsixteenth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of Realized Losses to a Mezzanine Certificate or Class B 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 Certificate Certificates shall be made first by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(d)(iv). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (aA) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modifications, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due in the month in which such Distribution Date occurs. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. 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 the Excess Cash Flow as part of the Principal Distribution Amount as provided in Section 1.034.02(c), to the interest accrued on extent of the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Excess Cash Flow for such Distribution Date; second, to Net Swap Payments received by the Class C Certificates (determined for purposes of this Section 4.07 as the amount by which (A) the aggregate Uncertificated Principal Balance Supplemental Interest Trust on that Distribution Date; third, in reduction of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date)Overcollateralization Amount, until the Certificate Principal Balance thereof such amount has been reduced to zero; thirdfourth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthfifth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthsixth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthseventh, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventheighth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthninth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tentheleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses; thirteenth, in each the case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of Realized Losses on the Group 1 Loans, to a Mezzanine Certificate on any Distribution Date shall be made by reducing the Class 1-A-3 Certificates, until the Certificate Principal Balance thereof by has been reduced to zero; then to the amount so allocatedClass 1-A-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero and then to the Class 1-A-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; any allocation and fourteenth, in the case of Realized Losses on the Group 2 Loans, to a the Class C Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to 2-A-2 Certificates, until the Certificate Principal Balances of Balance thereof has been reduced to zero and then to the Class A Certificates or 2-A-1 Certificates, until the Class P CertificatesCertificate Principal Balance thereof has been reduced to zero.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any Lower Tier REMIC Regular Certificate Interest pursuant to Section 5.05(b) on the Mortgage Loans shall be allocated by the Trustee Securities Administrator 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 1.03Net Monthly Excess Cashflow; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance principal balance of the Class A Certificates, the Mezzanine CE Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been Overcollateralization Amount is reduced to zero; third, to the Class M-9 Certificates, M-11 Certificates until the Certificate Principal Balance thereof of the Class M-11 Certificates has been reduced to zero; , fourth, to the Class M-10 Certificates until the Certificate Principal Balance of the Class M-10 Certificates has been reduced to zero, fifth, to the Class M-9 Certificates until the Certificate Principal Balance of the Class M-9 Certificates has been reduced to zero, sixth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof of the Class M-8 Certificates, has been reduced to zero; fifth, seventh, to the Class M-7 Certificates, until the Certificate Principal Balance thereof of the Class M-7 Certificates has been reduced to zero; sixtheighth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof of the Class M-6 Certificates has been reduced to zero; seventhninth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof of the Class M-5 Certificates has been reduced to zero; eighthtenth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof of the Class M-4 Certificates has been reduced to zero; nintheleventh, to the Class M-3 Certificates, until the Certificate Principal Balance thereof of the Class M-3 Certificates has been reduced to zero; tenthtwelfth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof of the Class M-2 Certificates has been reduced to zero; and elevenththirteenth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof of the Class M-1 Certificates has been reduced to zero. All Realized Losses to be allocated to the Overcollateralization Amount or 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 Overcollateralization Amount or the Certificate Principal Balance of any Class of Certificates shall be to the Overcollateralization Amount or 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. The Realized Losses allocated pursuant to clauses first and second above shall be allocated to the Class CE Interest, and the Realized Losses allocated pursuant to clauses third through thirteenth above shall be allocated to the corresponding Upper Tier REMIC Regular Interest. Realized Losses shall be allocated to the Lower Tier REMIC Regular Interests as set forth in the Preliminary Statement. 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 CE Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v5.01(f)(viii). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee Securities Administrator on each Distribution Date as follows: first, to Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Interest and Class A C Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 B-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; thirteenth, to the related Class of Class A Certificates, until the Certificate Principal Balance thereof has been reducted to zero, and fourteenth, to the unrelated Class of Class A 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modifications, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due in the month in which such Distribution Date occurs. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. 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 the Excess Cash Flow as part of the Principal Distribution Amount as provided in Section 1.034.02(c), to the interest accrued on extent of the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Excess Cash Flow for such Distribution Date; 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 in reduction of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date)Overcollateralization Amount, until the Certificate Principal Balance thereof such amount has been reduced to zero; third, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All ; and twelfth, for Realized Losses on the Group I Loans, to be allocated all of the Class I-A Certificates on a pro rata basis (with respect to the Grantor Trust Certificates, indirectly through the related Underlying Certificates), and for Realized Losses on the Group II Loans, to the Class II-A Certificates, until the Certificate Principal Balances of all Classes on any Distribution Date shall thereof have been reduced to zero; provided, however, that (a) such losses otherwise allocable to the Class I-A1AU, Class I-A2AU and Class I-A5AU Certificates will be so allocated after first to the actual distributions to be made on such date as provided above. All references above to Class I-A1B Certificates until the Certificate Principal Balance of any the Class of I-A1B Certificates shall has been reduced to zero, and then to the Class I-A1AU, Class I-A2AU and Class I-A5AU Certificates (and, therefore, to the Grantor Trust Certificates indirectly through the related Underlying Certificates) on a pro rata basis, (b) such losses otherwise allocable to the Class I-A3A Certificates will be allocated first to the Class I-A3B Certificates until the Certificate Principal Balance of such the Class immediately prior I-A3B Certificates has been reduced to zero, and then to the relevant Distribution DateClass I-A3A Certificates, before reduction thereof by any Realized Losses, in each case and (c) such losses otherwise allocable to the Class I-A4A Certificates will be allocated first to such the 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 I-A4B Certificates until the Certificate Principal Balance thereof by the amount so allocated; any allocation of 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)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A I-A4B Certificates or has been reduced to zero, and then to the Class P I-A4A Certificates.

Allocation of Realized Losses. (a) All With respect to any Distribution Date, the principal portion of Realized Losses on the (other than Debt Service Reductions) occurring with respect to Group I Mortgage Loans allocated to any Regular Certificate shall and Group II Mortgage Loans will be allocated by the Trustee on each Distribution Date as follows: first, as provided in Section 1.03, to the interest accrued on Class B-12 Certificates until the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03B-12 Principal Balance has been reduced to zero; second, to the Class C B-11 Certificates (determined for purposes of this Section 4.07 as until the amount by which (A) the aggregate Uncertificated Class B-11 Principal Balance of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 Certificates, B-10 Certificates until the Certificate Class B-10 Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 Certificates, B-9 Certificates until the Certificate Class B-9 Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 Certificates, B-8 Certificates until the Certificate Class B-8 Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, B-7 Certificates until the Certificate Class B-7 Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, B-6 Certificates until the Certificate Class B-6 Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, B-5 Certificates until the Certificate Class B-5 Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, B-4 Certificates until the Certificate Class B-4 Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, B-3 Certificates until the Certificate Class B-3 Principal Balance thereof has been reduced to zero; eleventh, to the Class B-2 Certificates until the Class B-2 Principal Balance has been reduced to zero; twelfth, to the Class B-1 Certificates until the Class B-1 Principal Balance has been reduced to zero; and elevenththirteenth, (i) with respect to such losses occurring with respect to Group I Mortgage Loans, to the Class M-1 Group I-A Certificates; and (ii) with respect to such losses occurring with respect to Group II Mortgage Loans, 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 aboveGroup II-A Certificates. 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. Any This allocation of Realized Losses to a Mezzanine Certificate on any Distribution Date shall will be made by reducing effected through the Certificate reduction of the applicable Class's Principal Balance thereof by through the amount so allocated; any allocation of 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)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances operation of the definition of Principal Balance and the provisos in the definitions of Class A Certificates or the B-1 Principal Balance, Class P CertificatesB-2 Principal Balance, Class B-3 Principal Balance, Class B-4 Principal Balance, Class B-5 Principal Balance, Class B-6 Principal Balance, Class B-7 Principal Balance, Class B-8 Principal Balance, Class B-9 Principal Balance, Class B-10 Principal Balance, Class B-11 Principal Balance and Class B-12 Principal Balance.

Allocation of Realized Losses. (aA) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modifications, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due in the month in which such Distribution Date occurs. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. 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 the Excess Cash Flow as part of the Principal Distribution Amount as provided in Section 1.034.02(c), to the interest accrued on extent of the Class C Certificates after Excess Cash Flow for such Distribution Date, second, in reduction of the allocation thereto of certain interest shortfalls as provided in Section 1.03Overcollateralization Amount, until such amount has been reduced to zero; secondthird, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A M-10 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfourth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthfifth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthsixth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthseventh, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventheighth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthninth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tentheleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All ; and thirteenth, for Realized Losses to be allocated on the Group I Loans, sequentially, 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 Class I-A-2 Certificates and Class I-A-1 Certificates, in that order, until the Certificate Principal Balance of any each such Class of Certificates shall be has been reduced to zero, and for Realized Losses on the Group II Loans, sequentially, to the Class II-A-3, Class II-A-2 and Class II-A-1 Certificates, in that order, until the Certificate Principal Balance of each such Class immediately prior has been reduced to the relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificateszero.

Allocation of Realized Losses. (a) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modifications, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due in the month in which such Distribution Date occurs. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. 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 the Excess Cash Flow as part of the Principal Distribution Amount as provided in Section 1.034.02(c), to the interest accrued on extent of the Class C Certificates after Excess Cash Flow for such Distribution Date, second, in reduction of the allocation thereto of certain interest shortfalls as provided in Section 1.03Overcollateralization Amount, until such amount has been reduced to zero; secondthird, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A M-10 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfourth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthfifth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthsixth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthseventh, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventheighth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthninth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tentheleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses to be allocated ; and thirteenth, for losses on the Group I Loans to the Class I-A-1 Certificates until the aggregate Certificate Principal Balance thereof has been reduced to zero, and for losses on the Group II Loans, to the Class II-A-1 Certificates and Class A-II-2 Certificates on a pro rata basis, based on their then outstanding Certificate Principal Balances of all Classes on any Distribution Date shall be so allocated after the actual prior to giving effect to distributions to be made on such date as provided above. All references above Distribution Date, until the aggregate Certificate Principal Balance of each such Class has been reduced to zero; provided, however, that such losses otherwise allocable to the Class II-A-1 Certificates will be allocated to the Class II-A-2 Certificates until the Certificate Principal Balance of any the Class II-A-2 Certificates has been reduced to zero. 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 shall be to on the basis of their then outstanding Certificate Principal Balance of such Class immediately Balances prior to the relevant Distribution Date, before reduction thereof by any Realized Losses, in each case giving effect to distributions to be allocated to such Class of Certificates, made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Accrued Certificate Interest thereon payable in respect of such Distribution Date (without regard to any Compensating Interest allocated to the Available Distribution Amount for such Distribution Date) in the case of an interest portion of a Realized Loss. (b) Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Mezzanine Certificate the Class of Class A Certificates or Class M Certificates on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date, until the Certificate Principal Balance thereof has been reduced to zero; any allocation provided, that no such reduction shall reduce the aggregate Certificate Principal Balance of the Certificates below the aggregate Stated Principal Balance of the Mortgage Loans. Allocations of the interest portions of Realized Losses (other than any interest rate reduction resulting from a Servicing Modification) to a any Class C Certificate of Class of Class A Certificates or Class M Certificates on any Distribution Date shall be made by reducing operation of the amount otherwise payable definition of "Accrued Certificate Interest" for each Class for such Distribution Date. Allocations of the interest portion of a Realized Loss resulting from an interest rate reduction in respect thereof pursuant to connection with a Servicing Modification shall be made by operation of the priority of payment provisions of Section 4.01(d)(v4.02(c). No allocations All Realized Losses and all other losses allocated to a Class of any Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. (c) Realized Losses shall be made allocated among the REMIC I Regular Interests pursuant to the definition of REMIC I Realized Losses, the REMIC II Regular Interests pursuant to the definition of REMIC II Realized Losses and the REMIC III Regular Interests pursuant to the definition of REMIC III Realized Losses. (d) Realized Losses allocated to the Excess Cash Flow or the Overcollateralization Amount pursuant to paragraphs (a), (b) or (c) of this Section, the definition of Accrued Certificate Interest and the operation of Section 4.02(c) shall be deemed allocated to the Class SB-1 Certificates and SB-2 Certificates, on a pro rata basis in accordance with the respective Certificate Principal Balances of thereof. Realized Losses allocated to the Class A SB Certificates or shall, to the Class P Certificatesextent such Realized Losses represent Realized Losses on an interest portion, be allocated to REMIC IV Regular Interest SB-IO. Realized Losses allocated to the Excess Cash Flow pursuant to paragraph (b) of this Section shall be deemed to reduce Accrued Certificate Interest on REMIC IV Regular Interest SB-IO. Realized Losses allocated to the Overcollateralization Amount pursuant to paragraph (b) of this Section shall be deemed first to reduce the principal balance of REMIC IV Regular Interest SB-PO until such principal balance shall have been reduced to zero and thereafter to reduce accrued and unpaid interest on REMIC IV Regular Interest SB-IO. Section 4.06.

Allocation of Realized Losses. (a) All Any Realized Losses on the Mortgage Loans allocated to will be applied on any Regular Certificate shall be allocated by the Trustee on each Distribution Date as follows: first, as provided in Section 1.03to Excess Spread through payment of the Extra Principal Distribution Amount, 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 Interest and Class C Certificates, until the amount by which (A) the aggregate Certificate Principal Balance and Uncertificated Principal Balance of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of thereof have been reduced to zero, third, to the Class A Certificates, the Mezzanine B-4 Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, fourth, to the Class M-9 Certificates, B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, fifth, to the Class M-8 Certificates, B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, sixth, to the Class M-7 Certificates, B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, seventh, to the Class M-6 Certificates, M-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; seventh, eighth, to the Class M-5 Certificates, M-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; eighth, ninth, to the Class M-4 Certificates, M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; ninth, tenth, to the Class M-3 Certificates, M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; tenth, eleventh, to the Class M-2 Certificates, M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; zero and eleventhtwelfth, to the Class M-1 A Certificates, on a pro rata basis, among the Class A-1 Certificates on the one hand and the Class A-2 Certificates and Class A-3 Certificates on the other hand, until the Certificate Principal Balances thereof have been reduced to zero; provided, however, any Realized Losses allocable to the Class A-2 Certificates will be allocated first to the Class A-3 Certificates, until the Certificate Principal Balance thereof of that Class has been reduced to zero. All Realized Losses to be allocated , and then 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. 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P A-2 Certificates.

Allocation of Realized Losses. (a) 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 1.03to amounts of Excess Cashflow, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A O Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhninth, to the Class M-1 A-3 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 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. In no event shall Realized Losses be allocated to the Class A-1 Certificates or the Class A-2 Certificates. Any allocation of Realized Losses to a Class O Certificate, a Class B Certificate, the Mezzanine Certificate, or a Class A-3 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03to related Net Monthly Excess Cashflow, through a distribution of the related Extra Principal Distribution Amount for that Distribution Date; second, to the interest accrued unrelated Net Monthly Excess Cashflow; third, to the related Overcollateralized Amount by a reduction of the Certificate Principal Balance of the related Class C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, if such Realized Loss is on a Group 1 Loan, first, to the Class C Certificates after 1-B Certificates, until the allocation thereto of certain interest shortfalls as provided in Section 1.03Certificate Principal Balance thereof has been reduced to zero; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A 1-M-8 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 1-M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 1-M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 1-M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 1-M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 1-M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class 1-M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, ninth to the Class 1-M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All ; thereafter, any Realized Losses to on the Group 1 Loans will be allocated on any Distribution Date to the Class 1-A1-A, Class 1-A1-B, Class 1-A1-C and [ ] Certificates, pro rata, based on 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 Lossesthereof, in each case to be allocated to such Class in reduction 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of thereof, until reduced to zero, provided that any such Realized Loss otherwise allocable to the Class A 1-A1-A, Class 1-A1-B and Class 1-A1-C Certificates or shall be first allocated to the Class P [ ] Certificates, until reduced to zero, and if such Realized Loss is on a Group 2 Loan, to the [ ] Certificates; provided, however, that any Realized Loss applied to the [ ] Certificates will be covered by the Certificate Guaranty Insurance Policy.

Allocation of Realized Losses. (a) All (i) On any Distribution Date, (x) the applicable AP Percentage of the principal portion of each Realized Losses on the Loss (other than any Excess Loss) in respect of a Discount Mortgage Loans Loan will be allocated to and reduce the Certificate Principal Amount of the Class AP Certificates until its Certificate Principal Amount has been reduced to zero, and (y) the applicable Non-AP Percentage of the principal portion of each Realized Loss (other than any Regular Certificate Excess Loss) in respect of a Mortgage Loan in any Mortgage Pool, shall be allocated by in the Trustee on each Distribution Date as followsfollowing order of priority: first, as provided in Section 1.03, to the interest accrued on Class B7 Certificates, in reduction of their Class Principal Amount, until the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03; Principal Amount thereof has been reduced to zero 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A B6 Certificates, the Mezzanine Certificates and the in reduction of their Class P Certificates immediately preceding such Distribution Date)Principal Amount, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; third, to the Class M-9 B5 Certificates, in reduction of their Class Principal Amount, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fourth, to the Class M-8 B4 Certificates, in reduction of their Class Principal Amount, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fifth, to the Class M-7 B3 Certificates, in reduction of their Class Principal Amount, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; sixth, to the Class M-6 B2 Certificates, in reduction of their Class Principal Amount, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; seventh, to the Class M-5 B1 Certificates, in reduction of their Class Principal Amount, until the Certificate Class Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance Amount thereof has been reduced to zero; and eleventheighth, to the Class M-1 related Classes of Non-AP Senior Certificates, pro rata, in accordance with their respective Class Principal Amounts; provided, however, (1) that any Realized Loss that would otherwise be allocable to the Class 1-A6 Certificates will be allocated to the Class 1-A7 Certificates until the Certificate Class Principal Balance thereof Amount of the Class 1-A7 Certificates has been reduced to zero and (2) that any Realized Loss that would otherwise be allocable to the Class 1-A8 Certificates will be allocated to the Class 1-A9 Certificates until the Class Principal Amount of the Class 1-A9 Certificates 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Class M Certificates and Class B Certificates: Any Realized Losses on the Mortgage Loans, except for Excess Losses, on the Mortgage Loans allocated to any Regular Certificate shall will be allocated by the Trustee on each any Distribution Date as follows: Date, first, as provided in Section 1.03, to the interest accrued on Class B-4 Certificates, in reduction of the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03; Certificate Principal Balances thereof, until reduced to zero, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A B-3 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until in reduction of the Certificate Principal Balance thereof has been Balances thereof, until reduced to zero; , third, to the Class B-2 Certificates, in reduction of the Certificate Principal Balances thereof, until reduced to zero, fourth, to the Class B-1 Certificates, in reduction of the Certificate Principal Balances thereof, until reduced to zero, fifth, to the Class M-9 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; fourth, sixth, to the Class M-8 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; fifth, seventh, to the Class M-7 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; sixth, eighth, to the Class M-6 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; seventh, ninth, to the Class M-5 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; eighth, tenth, to the Class M-4 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; ninth, eleventh, to the Class M-3 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; tenth, twelfth, to the Class M-2 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; , and elevenththirteenth, to the Class M-1 Certificates, until in reduction of the Certificate Principal Balance thereof thereof, until reduced to zero. Thereafter, any Realized Losses on the Mortgage Loans will be allocated concurrently, on a pro rata basis, to the Class A Certificates and the X-PO-A Component and X-PO-B Component, provided however that (a) any realized losses on the Mortgage Loans that would have been allocable to the Class A1-A Certificates will be allocated to the Class A1-B Certificates and Class A1-C Certificates on a pro rata basis until their Certificate Principal Balances have been reduced to zero, (b) any realized losses on the Mortgage Loans that would have been allocable to the Class A1-B Certificates will be allocated to the Class A1-C Certificates until its Certificate Principal Balance has been reduced to zero and (c) any realized losses on the Mortgage Loans that would have been allocable to the Class A2-A Certificates will be allocated to the Class A2-B Certificates until its Certificate Principal Balance 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of a Realized Losses Loss to a Mezzanine Certificate on any Distribution Date shall or Component will be made by reducing the Certificate Principal Balance or Component Principal Balance thereof by the amount so allocated; any allocation allocated as of the Distribution Date in the month following the calendar month in which such Realized Losses to a Class C Certificate shall be made by reducing Loss was incurred. If, after taking into account Subsequent Recoveries, the amount otherwise payable in respect thereof pursuant of a Realized Loss is reduced, the amount of such Subsequent Recoveries will be applied (i) first, to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to increase the Certificate Principal Balances Balance of the Class A Certificates or with the highest payment priority to which Realized Losses have been allocated, (ii) second, to increase the Component Principal Balance of the related X-PO Component of the Class X-P Certificates with the highest payment priority to which Realized Losses have been allocated, and then (iii) third, to Class M Certificates and Class B Certificates with the highest payment priority to which Realized Losses have been allocated, but in each case, not by more than the amount of Realized Losses previously allocated to that Class of Certificates or Component. The amount of any remaining Subsequent Recoveries will be applied to increase the Certificate Principal Balance or Component Principal Balance of the Class of Certificates or Component with the next highest payment priority, up to the amount of such Realized Losses previously allocated to that Class of Certificates or Component, and so on. Holders of the Certificates will not be entitled to any payment in respect of any Accrued Certificate 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 applied to the Component Principal Balance or Certificate Principal Balance of each certificate of such Class in accordance with its respective percentage interest The Class M Certificates and Class B Certificates will provide limited protection to the Classes of Certificates of higher relative priority against (i) Special Hazard Losses in an initial amount equal to the Special Hazard Loss Coverage Amount, (ii) Bankruptcy Losses in an initial amount equal to the Bankruptcy Loss Coverage Amount and (iii) Fraud Losses in an initial amount equal to the Fraud Loss Coverage Amount. The Fraud Loss Coverage Amount will be reduced, from time to time, by the amount of Fraud Losses allocated to the Certificates.. In addition, (a) on each anniversary prior to the fifth anniversary of the Cut-off Date, the Fraud Loss Coverage Amount will be reduced to an amount equal to the lesser of (A) (i) 3% of the Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date on the first anniversary of the Cut-off Date, (ii) 2% of the Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date on the second anniversary of the Cut-off Date, (iii) 1% of the Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date on the third anniversary through the fifth anniversary of the Cut-off Date and (B) the excess of the Fraud Loss Coverage Amount as of the preceding anniversary of the Cut-off Date over the cumulative amount of Fraud Losses allocated to the Class M Certificates and Class B Certificates since such preceding anniversary, and (b) on the sixth anniversary of the Cut-off Date, zero. The Bankruptcy Loss Coverage Amount will be reduced, from time to time, by the amount of Bankruptcy Losses allocated to the Class M Certificates and Class B Certificates. The Special Hazard Loss Coverage Amount will be reduced, from time to time, to an amount equal on any Distribution Date to the lesser of:

Allocation of Realized Losses. (a) 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 1.03to Net Monthly Excess Cashflow, to through a distribution of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for that Distribution Date; second, to the Class C Certificates (determined for purposes of this Section 4.07 as the amount Overcollateralized Amount by which (A) the aggregate Uncertificated Principal Balance a reduction of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A C Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 B Certificates, until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, ninth to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All ; thereafter, any Realized Losses to on the Mortgage Loans will be allocated on any Distribution Date to the Class A-1, Class A-2, Class A-2M, Class A-3, Class A-3M, Class A-4, Class A-4M, Class A-5, Class A-5M, Class A-6, Class A-6M and Class A-7 Certificates, on a pro rata basis, based on 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 Lossesthereof, in each case to be allocated to such Class in reduction 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of thereof, until reduced to zero; provided however, that (a) any Realized Loss applied to the Class A A-1 Certificates or will be covered by the Certificate Guaranty Insurance Policy, (b) any Realized Loss that would have been applied to the Class P A-2 Certificates will be applied to the Class A-2M Certificates until its Certificate Principal Balance has been reduced to zero, and then to the Class A-2 Certificates, (c) any Realized Loss that would have been applied to the Class A-3 Certificates will be applied to the Class A-3M Certificates until its Certificate Principal Balance has been reduced to zero, and then to the Class A-3 Certificates, (d) any Realized Loss that would have been applied to the Class A-4 Certificates will be applied to the Class A-4M Certificates until its Certificate Principal Balance has been reduced to zero, and then to the Class A-4 Certificates, (e) any Realized Loss that would have been applied to the Class A-5 Certificates will be applied to the Class A-5M Certificates until its Certificate Principal Balance has been reduced to zero, and then to the Class A-5 Certificates and (f) any Realized Loss that would have been applied to the Class A-6 Certificates will be applied to the Class A-6M Certificates until its Certificate Principal Balance has been reduced to zero, and then to the Class A-6 Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee Securities Administrator 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 1.03Net Monthly Excess Cashflow; second, to the Class C Certificates (determined for purposes of this Section 4.07 as the amount Overcollateralized Amount by which (A) the aggregate Uncertificated Principal Balance a reduction of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A C Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthfifth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthsixth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthseventh, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventheighth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthninth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tentheleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and thirteenth, to the Class A2 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of Realized Losses to a Mezzanine Class M Certificate or Class A2 Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated; any . Any allocation of 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(d)(v4.01(c)(vi), and (ii) second, 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 A Certificates or the Class P Certificates. With respect to the REMIC 1 Regular Interests, all Realized Losses on the Mortgage Loans shall be allocated shall be allocated by the Securities Administrator 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-50-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. With respect to the REMIC 2 Regular Interests, all Realized Losses shall be allocated by the Securities Administrator on each Distribution Date first on each Distribution Date as follows: first to Uncertificated Accrued Interest payable to the REMIC 2 Regular Interest LT-AA and REMIC 2 Regular Interest LT-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 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; third, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest LT-M10 and REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT-M10 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest LT-M9 and REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT-M9 has been reduced to zero; fifth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest LT-M8 and REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT-M8 has been reduced to zero; sixth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest LT-M7 and REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT-M7 has been reduced to zero; seventh, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest LT-M6 and REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT-M6 has been reduced to zero; eighth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest LT-M5 and REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT-M5 has been reduced to zero; ninth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest LT-M4 and REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT-M4 has been reduced to zero; tenth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest LT-M3 and REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT-M3 has been reduced to zero; eleventh, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest LT-M2 and REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT-M2 has been reduced to zero; twelfth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest LT-M1 and REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT-M1 has been reduced to zero; and thirteenth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest LT-A2 and REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT-A2 has been reduced to zero.

Allocation of Realized Losses. (a) All With respect to any Distribution Date, the principal portion of Realized Losses on the (other than Debt Service Reductions) occurring with respect to Group I Mortgage Loans, Group II Mortgage Loans, Group III Mortgage Loans, Group IV Mortgage Loans allocated to any Regular Certificate shall and Group V Mortgage Loans will be allocated by the Trustee on each Distribution Date as follows: first, as provided in Section 1.03, to the interest accrued on Class B-8 Certificates until the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03B-8 Principal Balance has been reduced to zero; second, to the Class C B-7 Certificates (determined for purposes of this Section 4.07 as until the amount by which (A) the aggregate Uncertificated Class B-7 Principal Balance of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 Certificates, B-6 Certificates until the Certificate Class B-6 Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 Certificates, B-5 Certificates until the Certificate Class B-5 Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 Certificates, B-4 Certificates until the Certificate Class B-4 Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, B-3 Certificates until the Certificate Class B-3 Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, B-2 Certificates until the Certificate Class B-2 Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, B-1 Certificates until the Certificate Class B-1 Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhninth, (i) with respect to such losses occurring with respect to Group I Mortgage Loans, to the Class M-1 Group I-A Certificates; (ii) with respect to such losses occurring with respect to Group II Mortgage Loans, 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 Group II-A Certificates; (iii) with respect to be made on such date as provided above. All references above losses occurring with respect to Group III Mortgage Loans, to the Certificate Principal Balance of any Class of Certificates shall be Group III-A Certificates; (iv) with respect to such losses occurring with respect to Group IV Mortgage Loans, to the Certificate Principal Balance of Group IV-A Certificates; and (v) with respect to such Class immediately prior losses occurring with respect to Group V Mortgage Loans, to the relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Group V-A Certificates, on such Distribution Date. Any This allocation of Realized Losses to a Mezzanine Certificate on any Distribution Date shall will be made by reducing effected through the Certificate reduction of the applicable Class's Principal Balance thereof by through the amount so allocated; any allocation of 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)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances operation of the definition of Principal Balance and the provisos in the definitions of Class A Certificates or the B-1 Principal Balance, Class P CertificatesB-2 Principal Balance, Class B-3 Principal Balance, Class B-4 Principal Balance, Class B-5 Principal Balance, Class B-6 Principal Balance, Class B-7 Principal Balance and Class B-8 Principal Balance.

Allocation of Realized Losses. (a) 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 1.03Net Monthly Excess Cashflow; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-11 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourtheighth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthninth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthtenth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventheleventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthtwelfth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninththirteenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenthfourteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; zero and eleventhfifteenth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate Certificates shall be made first by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(d)(iv). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any REMIC II Regular Certificate Interest pursuant to Section 5.05(c) on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the CE Interest and Class A CE Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, to the related Class M-1 or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balance Balances thereof has have been reduced to zero; and twelfth, to the unrelated Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Interest and Class A C Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 B-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eleveth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero and thirteenth, to the Class or Classes of Class A Certificates, on a pro rata basis among the Class A-1 Certificates, on the one hand, and the Class A-2 Certificates and Class A-3 Certificates, on the other hand, in reduction of the Certificate Principal Balances thereof, until reduced to zero; provided, however, any Realized Losses allocable to the Class A-2 Certificates will be allocated first to the Class A-3 Certificates, until the Certificate Principal Balance of that Class has been reduced to zero, and then to the Class A-2 Certificates. 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. 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Interest and Class A C Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 B-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eleveth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zerozero and thirteenth, to the Class A Certificates. 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. 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03Net Monthly Excess Cashflow; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-11 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthninth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthtenth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixtheleventh, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventhtwelfth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighththirteenth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthfourteenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenthfifteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhsixteenth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of Realized Losses to a Mezzanine Certificate or Class B 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 Certificate Certificates shall be made first by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(d)(iv). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modification, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due during the related Due Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses on the Mortgage Loans allocated to any Regular Certificate in a Loan Group, shall be allocated by to the Trustee on each Distribution Date Certificates in the related Certificate Group as follows: first, as provided in Section 1.03, to the interest accrued on Class I-B-3 Certificates or the Class C Certificates after II-B-3 Certificates, as applicable, until the allocation thereto of certain interest shortfalls as provided in Section 1.03Certificate Principal Balance thereof has been reduced to zero; second, to the Class C I-B-2 Certificates (determined for purposes of this Section 4.07 as the amount by which (A) the aggregate Uncertificated Principal Balance of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of or the Class A II-B-2 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date)as applicable, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 I-B-1 Certificates or the Class II-B-1 Certificates, as applicable, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 I-M-3 Certificates or the Class II-M-3 Certificates, as applicable, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 I-M-2 Certificates or the Class II-M-2 Certificates, as applicable, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 I-M-1 Certificates or the Class II-M-1 Certificates, as applicable, until the Certificate Principal Balance thereof has been reduced to zero; seventhand, thereafter, if any such Realized Loss is on a Discount Mortgage Loan, to the related Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, A-P Certificates in an amount equal to the Class M-4 Certificates, related Discount Fraction of the principal portion of the Realized Loss until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, 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 A-P Certificates has been reduced to zero, and the remainder of such Realized Losses on the Discount Mortgage Loans in the related Loan Group and the entire amount of such Realized Losses on Non-Discount Mortgage Loans in the related Loan Group will be allocated among (i) the Group I Senior (other than the Class I-A-P Certificates) and, in the case of the interest portion of such Realized Loss, the Class I-A-V Certificates (in the case of a Group I Loan) on a pro rata basis, (ii) Group II Senior Certificates and, in the case of the interest portion of such Realized Loss, Class II-A-V on a pro rata basis or (iii) to the relevant Distribution DateGroup III Senior Certificates [(with respect to the Class III-A-1 Certificates, before reduction thereof by after application of any Realized LossesLetter of Credit Draw Amounts)] and, in each the case of the interest portion of such Realized Loss, the Class II-A-V Certificates (in the case of a Group III Loan) on a pro rata basis, as described below; provided, however, that such Realized Losses otherwise allocable to the Super Senior Certificates will be allocated to the Senior Support Certificates until the Certificate Principal Balance of the Senior Support Certificates has been reduced to zero. 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, Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Accrued Certificate Interest thereon payable from the related Loan Group in respect of such Distribution Date (without regard to any Compensating Interest allocated to the Available Distribution Amount of such Loan Group for such Distribution Date) in the case of an interest portion of a Realized Loss. Any Except as provided in the following sentence, any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Mezzanine Certificate on any Distribution Date Class of Certificates shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date; any provided that no such reduction shall reduce the aggregate Certificate Principal Balance of the Certificates in the Certificate Group related to Loan Group I or Loan Group II and Loan Group III in the aggregate, as applicable, below the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group or Loan Groups. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class C Certificate the related Subordinate Certificates then outstanding with the Lowest Priority shall be made by reducing operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.02(a). Allocations of the interest portions of Realized Losses (other than any interest rate reduction resulting from a Servicing Modification) shall be made in proportion to the amount otherwise payable of Accrued Certificate Interest and by operation of the definition of “Accrued Certificate Interest” and by operation of the provisions of Section 4.02(a). Allocations of the interest portion of a Realized Loss resulting from an interest rate reduction in respect thereof connection with a Servicing Modification shall be made by operation of the provisions of Section 4.02(a). Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.02(a). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby; provided that if any Subclasses of the Class A-V Certificates have been issued pursuant to Section 4.01(d)(v5.01(c). No allocations of any , such Realized Losses and other losses allocated to the Class A-V Certificates shall be made allocated among such Subclasses in proportion to the respective amounts of Accrued Certificate Principal Balances of the Class A Certificates or the Class P CertificatesInterest payable on such Distribution Date that would have resulted absent such reductions.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any REMIC II Regular Certificate Interest pursuant to Section 6.05(c) on the Mortgage Loans shall be allocated by the Trustee Securities Administrator on each Distribution Date as follows: first, to Excess Spread as provided part of the payment in Section 1.03, to respect of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; second, to the Class C Certificates (determined for purposes of this Section 4.07 as CE Interest and Class CE Certificates, until the amount by which (A) the aggregate Certificate Principal Balance or Uncertificated Principal Balance of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of thereof, as applicable, has been reduced to zero; third, to the Class A M-10 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfourth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthfifth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthsixth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthseventh, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventheighth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthninth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tentheleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; thirteenth, to the related Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; and fourteenth, to the unrelated Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Any Realized Losses on the Mortgage Loans allocated to any Regular Certificate shall will 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such any Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthfirst, to the Class M-7 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; sixth, second, to the Class M-6 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; seventh, third, to the Class M-5 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; eighth, fourth, to the Class M-4 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; ninth, fifth, to the Class M-3 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; tenth, sixth, to the Class M-2 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero; , and eleventhseventh, to the Class M-1 Certificates, until in reduction of the Certificate Principal Balance thereof has been thereof, until reduced to zero. All Thereafter, any remaining Realized Losses with respect to the Group I Loans will be allocated to the Certificate Principal Balances of all Classes on any Distribution Date shall be so allocated after Date, first, to the actual distributions to be made on such date as provided above. All references above to Class 1A3 Certificates, in reduction of the Certificate Principal Balance thereof, until reduced to zero, second, to the Class 1A2 Certificates, in reduction of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior thereof, until reduced to zero, and third, to the relevant Class 1A1 Certificates, in reduction of the Certificate Principal Balance thereof, until reduced to zero. Any remaining Realized Losses with respect to the Group II Loans will be allocated on any Distribution Date, before reduction thereof by any Realized Lossesfirst, to the Class 2A3 Certificates, in each case reduction of the Certificate Principal Balance thereof, until reduced to be allocated zero, second, to such the Class of 2A2 Certificates, on such Distribution Datein reduction of the Certificate Principal Balance thereof, until reduced to zero, and third, to the Class 2A1 Certificates, in reduction of the Certificate Principal Balance thereof, until reduced to zero. Any allocation of a Realized Losses Loss to a Mezzanine Certificate on any Distribution Date shall will be made by reducing the Certificate Principal Balance thereof by the amount so allocated; any allocation allocated as of the Distribution Date in the month following the calendar month in which such Realized Losses to a Class C Certificate shall be made by reducing Loss was incurred. If, after taking into account Subsequent Recoveries, the amount otherwise payable in respect thereof pursuant of a Realized Loss is reduced, the amount of such Subsequent Recoveries will be applied to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to increase the Certificate Principal Balances Balance of the Class M Certificates with the highest payment priority to which Realized Losses have been allocated, and then to increase the Certificate Principal Balance of the Class A Certificates or 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 Certificates. The amount of any remaining Subsequent Recoveries will be applied to increase the Certificate Principal Balance of the Class P of Certificates with the next highest payment priority, up to the amount of such Realized Losses previously allocated to that Class of Certificates, and so on. Holders of the Certificates will not be entitled to any payment in respect of any Accrued Certificate 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 applied to the Certificate Principal Balance of each Certificate of such Class in accordance with its respective percentage interest. On each Distribution Date, if the aggregate Certificate Principal Balances of all Classes of the Class A Certificates and Class M Certificates exceeds the Aggregate Stated Principal Balances of the Mortgage Loans in Loan Group I and Loan Group II after giving effect to distributions of principal and the allocation of all losses to these Certificates on that Distribution Date, that excess will be deemed a principal loss and will be allocated to the most junior Class of Class M Certificates then outstanding. With respect to the REMIC 1 Regular Interests, all Realized Losses on the Mortgage Loans shall be allocated by the Securities Administrator on each Distribution Date (a) with respect to Realized Losses on the Group 1 Loans, first, to REMIC 1 Regular Interest LT-I until the Uncertificated Principal Balance of such REMIC 1 Regular Interest has been reduced to zero and then to REMIC 1 Regular Interest LT-IO-1 and REMIC 1 Regular Interest LT-IO-2, until the Uncertificated Principal Balance of each such REMIC 1 Regular Interest has been reduced to zero and (b) (a) with respect to Realized Losses on the Group 2 Loans, to REMIC 1 Regular Interest LT-II, until the Uncertificated Principal Balance of such REMIC 1 Regular Interest has been reduced to zero. With respect to the REMIC 2 Regular Interests, all Realized Losses on the Mortgage Loans shall be allocated by the Securities Administrator on each Distribution Date 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-M7 and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MT-M7 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest MT-M6 and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MT-M6 has been reduced to zero; fifth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest MT-M5 and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MT-M5 has been reduced to zero; sixth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest MT-M4 and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MT-M4 has been reduced to zero; seventh, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest MT-M3 and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MT-M3 has been reduced to zero; eighth, to the 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 of REMIC 2 Regular Interest MT-M2 has been reduced to zero; ninth, to the 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 Uncertificated Principal Balance of REMIC 2 Regular Interest MT-M1 has been reduced to zero; tenth, (a) with respect to Realized Losses on the Group 1 Loans, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest MT-1A3 and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MT-1A3 has been reduced to zero and (b) with respect to Realized Losses on the Group 2 Loans, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest MT-2A3 and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MT-2A3 has been reduced to zero; eleventh, (a) with respect to Realized Losses on the Group 1 Loans, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest MT-1A2 and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MT-1A2 has been reduced to zero and (b) with respect to Realized Losses on the Group 2 Loans, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest MT-2A2 and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MT-2A2 has been reduced to zero; and twelfth, (a) with respect to Realized Losses on the Group 1 Loans, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest MT-1A1 and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MT-1A1 has been reduced to zero and (b) with respect to Realized Losses on the Group 2 Loans, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest MT-2A1 and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MT-2A1 has been reduced to zero.

Allocation of Realized Losses. (a) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modification, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due during the related Due Period. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. All Realized Losses Losses, other than Excess Losses, on the Mortgage Group I Loans allocated to any Regular Certificate shall be allocated by the Trustee on each Distribution Date as follows: first, to Excess Cash Flow as provided in Section 1.034.02(II)(a)(x), to the interest accrued on extent of the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Excess Cash Flow for such Distribution Date; 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 in reduction of the REMIC 1 Regular Interests immediately preceding Overcollateralization Amount, until the earlier of: (1) such Distribution Date exceeds amount has been reduced to zero or (B2) the aggregate Certificate Principal Balance of the Class A A-I Certificates, the Mezzanine Class M-I Certificates and Class B-I Certificates equals the Class P Certificates immediately preceding such Distribution Date), until the Certificate aggregate Stated Principal Balance thereof has been reduced to zeroof the Group I Loans; third, to the Class M-9 Certificates, B-I-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 M-I-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-I-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-I-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the M-I-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-I-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and ninth, to the Class A-I Certificates, with such amount allocated among each Class of Class A-I Certificates on a pro rata basis, based on the outstanding Certificate Principal Balance of each such Class prior to giving effect to distributions to be made on such Distribution Date, until the Certificate Principal Balance of each such Class has been reduced to zero. All Realized Losses, other than Excess Losses, on the Group II Loans, shall be allocated as follows: first, to the Class B-II-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-II-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-II-1, Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-II-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth to the Class M-II-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-II-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-II-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthand, thereafter, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Group A-II Senior 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 Certificate shall be made by reducing the amount otherwise payable pro rata basis, as described in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificatesparagraph (d) below.

Allocation of Realized Losses. (a) 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 1.03to related Net Monthly Excess Cashflow, through a distribution of the related Extra Principal Distribution Amount for that Distribution Date; second, to the interest accrued related Overcollateralized Amount by a reduction of the Certificate Principal Balance of the related Class C-R Certificates or Class C-M Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, if such Realized Loss is on a Group 1 Loan, first, to the Class C Certificates after 1-B Certificates, until the allocation thereto of certain interest shortfalls as provided in Section 1.03Certificate Principal Balance thereof has been reduced to zero; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A 1-M-8 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 1-M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 1-M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 1-M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 1-M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 1-M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class 1-M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, ninth to the Class 1-M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; thereafter, any Realized Losses on the Group 1 Loans will be allocated on any Distribution Date to the Class 1-A1-1, Class 1-A1-2, Class 1-A2-A, Class 1-A2-B and Class 1-A2-C Certificates, pro rata, based on the Certificate Principal Balances thereof, in each case, in reduction of the Certificate Principal Balances thereof, until reduced to zero; provided that any such Realized Losses otherwise allocable to the Class 1-A1-1 Certificates shall be first allocated to the Class 1-A1-2 Certificates, until reduced to zero and if such Realized Loss is on a Group 2 Loan, first, to the Class 2-B Certificates, until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class 2-M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class 2-M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class 2-M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero, thereafter, any Realized Losses on the Group 2 Loans will be allocated on any Distribution Date to the Class 2-A-1 Certificates and Class 2-A-2 Certificates, pro rata, based on the Certificate Principal Balances thereof, in each case, in reduction of the Certificate Principal Balances thereof, until reduced to zero; provided that any such Realized Losses otherwise allocable to the Class 2-A-1 Certificates shall be first allocated to the Class 2-A-2 Certificates, until 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All On any Distribution Date, the principal portion of each Realized Losses on the Loss (other than any Excess Loss) in respect of a Mortgage Loans allocated to any Regular Certificate Loan shall be allocated by in the Trustee on each Distribution Date as followsfollowing order of priority: first, as provided in Section 1.03, to the interest accrued on Class B10 Certificates, until the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Principal Amount thereof has been reduced to zero; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A B9 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Class Principal Balance Amount thereof has been reduced to zero; third, to the Class M-9 B8 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fourth, to the Class M-8 B7 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fifth, to the Class M-7 B6 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; sixth, to the Class M-6 B5 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; seventh, to the Class M-5 B4 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; eighth, to the Class M-4 B3 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; ninth, to the Class M-3 B2 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; tenth, to the Class M-2 B1 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; and eleventh, to the Class M-1 Classes of Senior Certificates, until the Certificate pro rata, in accordance with their Class Principal Balance thereof has been reduced to zero. All Realized Losses to be Amounts; provided, that any such loss 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 Accrual Certificates shall be allocated (subject to Section 5.03(c)) on the Certificate basis of the lesser of (x) the Class Principal Balance of such Class Amount thereof immediately prior to the relevant applicable Distribution Date, before reduction Date and (y) the Class Principal Amount thereof on the Closing Date (as reduced by any Realized LossesLosses previously allocated thereto). Notwithstanding the foregoing, in each case to the first $0.46 of principal portion of Realized Losses shall not be allocated to such any 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee Securities Administrator on each Distribution Date as follows: first, as provided in Section 1.03to Net Monthly Excess Cashflow, to through a distribution of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for that Distribution Date; second, to the Class C Certificates (determined for purposes of this Section 4.07 as the amount Overcollateralized Amount by which (A) the aggregate Uncertificated Principal Balance a reduction of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A X Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthfifth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthsixth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthseventh, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventheighth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthninth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tentheleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtwelfth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and thirteenth, with respect to any Realized Loss on a Group I Loan, to the Class I-A2 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of Realized Losses to a Mezzanine Class M Certificate or Class I-A2 Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated; any . Any allocation of Realized Losses to a Class C X Certificate shall be made by (i) first, reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(c)(vi), and (ii) second, 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 A P Certificates or the Class P A Certificates, other than the Class I-A2 Certificates. With respect to the REMIC 1 Regular Interests, all Realized Losses on the Group I Loans shall be allocated shall be allocated by the Securities Administrator on each Distribution Date first to REMIC 1 Regular Interest I and REMIC 1 Regular Interest I-PF, until the Uncertificated Principal Balance of each such REMIC 1 Regular Interest has been reduced to zero; provided however, with respect to the first two Distribution Dates, all Realized Losses on the Initial Group I Mortgage Loans shall be allocated to REMIC 1 Regular Interest I, until the Uncertificated Principal Balance thereof has been reduced to zero, and all Realized Losses on the Subsequent Group I Mortgage Loans shall be allocated to REMIC 1 Regular Interest I-PF until the Uncertificated Principal Balance thereof has been reduced to zero. All Realized Losses on the Group II Mortgage Loans shall be allocated by the Trustee on each Distribution Date, first to REMIC 1 Regular Interest II and REMIC 1 Regular Interest II-PF, until the Uncertificated Principal Balance of each such REMIC 1 Regular Interest has been reduced to zero; provided however, with respect to the first two Distribution Dates, all Realized Losses on the Initial Group II Mortgage Loans shall be allocated to REMIC 1 Regular Interest II, until the Uncertificated Principal Balance thereof has been reduced to zero, and all Realized Losses on the Subsequent Group II Mortgage Loans shall be allocated to REMIC 1 Regular Interest II-PF until the Uncertificated Principal Balance thereof has been reduced to zero. With respect to the REMIC 2 Regular Interests, all Realized Losses on the Group I Loans shall be allocated shall be allocated by the Securities Administrator on each Distribution Date first, to REMIC 2 Regular Interest I until the Uncertificated Principal Balance has been reduced to zero, and second, to REMIC 2 Regular Interest I-1-A through REMIC 2 Regular Interest I-103-B, starting with the lowest numerical denomination until such REMIC 2 Regular Interest has been reduced to zero, provided that, for REMIC 2 Regular Interests with the same numerical denomination, such Realized Losses shall be allocated pro rata between such REMIC 2 Regular Interests. All Realized Losses on the Group II Loans shall be allocated on each Distribution Date first, to REMIC 2 Regular Interest II until the Uncertificated Principal Balance has been reduced to zero, and second, to REMIC 2 Regular Interest II-1-A through REMIC 2 Regular Interest II-103-B, starting with the lowest numerical denomination until such REMIC 2 Regular Interest has been reduced to zero, provided that, for REMIC 2 Regular Interests with the same numerical denomination, such Realized Losses shall be allocated pro rata between such REMIC 2 Regular Interests. With respect to the REMIC 3 Regular Interests, the REMIC 3 Marker Allocation Percentage of all Realized Losses shall be allocated by the Securities Administrator on each Distribution Date first on each Distribution Date as follows: first to Uncertificated Accrued Interest payable to the REMIC 3 Regular Interest LT-AA and REMIC 3 Regular Interest LT-ZZ up to an aggregate amount equal to the REMIC 3 Interest Loss Allocation Amount, 98% and 2% respectively; second, to the Uncertificated Principal Balances of REMIC 3 Regular Interest LT-AA and REMIC 3 Regular Interest LT-ZZ up to an aggregate amount equal to the REMIC 3 Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 3 Regular Interest LT-AA, REMIC 3 Regular Interest LT-M10 and REMIC 3 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 3 Regular Interest LT-M10 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 3 Regular Interest LT-AA, REMIC 3 Regular Interest LT-M9 and REMIC 3 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 3 Regular Interest LT-M9 has been reduced to zero; fifth, to the Uncertificated Principal Balances of REMIC 3 Regular Interest LT-AA, REMIC 3 Regular Interest LT-M8 and REMIC 3 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 3 Regular Interest LT-M8 has been reduced to zero; sixth, to the Uncertificated Principal Balances of REMIC 3 Regular Interest LT-AA, REMIC 3 Regular Interest LT-M7 and REMIC 3 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 3 Regular Interest LT-M7 has been reduced to zero; seventh, to the Uncertificated Principal Balances of REMIC 3 Regular Interest LT-AA, REMIC 3 Regular Interest LT-M6 and REMIC 3 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 3 Regular Interest LT-M6 has been reduced to zero; eighth, to the Uncertificated Principal Balances of REMIC 3 Regular Interest LT-AA, REMIC 3 Regular Interest LT-M5 and REMIC 3 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 3 Regular Interest LT-M5 has been reduced to zero; ninth, to the Uncertificated Principal Balances of REMIC 3 Regular Interest LT-AA, REMIC 3 Regular Interest LT-M4 and REMIC 3 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 3 Regular Interest LT-M4 has been reduced to zero; tenth, to the Uncertificated Principal Balances of REMIC 3 Regular Interest LT-AA, REMIC 3 Regular Interest LT-M3 and REMIC 3 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 3 Regular Interest LT-M3 has been reduced to zero; eleventh, to the Uncertificated Principal Balances of REMIC 3 Regular Interest LT-AA, REMIC 3 Regular Interest LT-M2 and REMIC 3 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 3 Regular Interest LT-M2 has been reduced to zero; and twelfth, to the Uncertificated Principal Balances of REMIC 3 Regular Interest LT-AA, REMIC 3 Regular Interest LT-M1 and REMIC 3 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 3 Regular Interest LT-M1 has been reduced to zero. With respect to the REMIC 3 Regular Interests, the REMIC 3 Sub WAC Allocation Percentage of all Realized Losses shall be allocated shall be allocated by the Securities Administrator on each Distribution Date first, so as to keep the Uncertificated Principal Balance of each REMIC 3 Regular Interest ending with the designation “GRP” equal to 0.01% of the aggregate Scheduled Principal Balance of the Mortgage Loans in the related Loan Group; second, to each REMIC 3 Regular Interest ending with the designation “SUB” so that the Uncertificated Principal Balance of each such REMIC 3 Regular Interest is equal to 0.01% of the excess of (x) the aggregate Scheduled Principal Balance of the Mortgage Loans in the related Loan Group over (y) the current Certificate Principal Balance of the Class A Certificates related to such Loan Group (except that if any such excess is a larger number than in the preceding distribution period, the least amount of Realized Losses shall be applied to such REMIC 3 Regular Interests such that the REMIC 3 Subordinated Balance Ratio is maintained); and third, any remaining Realized Losses shall be allocated to REMIC 3 Regular Interest LT-XX.

Allocation of Realized Losses. (a) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modification, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due during the related Due Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses on the Mortgage Loans allocated to any Regular Certificate in a Loan Group, shall be allocated by to the Trustee on each Distribution Date Certificates in the related Certificate Group as follows: first, as provided in Section 1.03, to the interest accrued on Class I-B-3 Certificates or the Class C Certificates after II-B-3 Certificates, as applicable, until the allocation thereto of certain interest shortfalls as provided in Section 1.03Certificate Principal Balance thereof has been reduced to zero; second, to the Class C I-B-2 Certificates (determined for purposes of this Section 4.07 as the amount by which (A) the aggregate Uncertificated Principal Balance of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of or the Class A II-B-2 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date)as applicable, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 I-B-1 Certificates or the Class II-B-1 Certificates, as applicable, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 I-M-3 Certificates or the Class II-M-3 Certificates, as applicable, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 I-M-2 Certificates or the Class II-M-2 Certificates, as applicable, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 I-M-1 Certificates or the Class II-M-1 Certificates, as applicable, until the Certificate Principal Balance thereof has been reduced to zero; seventhand, thereafter, if any such Realized Loss is on a Discount Mortgage Loan, to the related Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, A-P Certificates in an amount equal to the Class M-4 Certificates, related Discount Fraction of the principal portion of the Realized Loss until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, 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 A-P Certificates has been reduced to zero, and the remainder of such Realized Losses on the Discount Mortgage Loans in the related Loan Group and the entire amount of such Realized Losses on Non-Discount Mortgage Loans in the related Loan Group will be allocated among (i) the Group I Senior (other than the Class I-A-P Certificates) and, in the case of the interest portion of such Realized Loss, the Class I-A-V Certificates (in the case of a Group I Loan) on a pro rata basis, (ii) Group II Senior Certificates and, in the case of the interest portion of such Realized Loss, Class II-A-V on a pro rata basis or (iii) to the relevant Distribution Date, before reduction thereof by any Realized LossesGroup III Senior Certificates and, in each the case of the interest portion of such Realized Loss, the Class II-A-V Certificates (in the case of a Group III Loan) on a pro rata basis, as described below; provided, however, that such Realized Losses otherwise allocable to the Super Senior Certificates will be allocated to the Senior Support Certificates until the Certificate Principal Balance of the Senior Support Certificates has been reduced to zero. 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, Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Accrued Certificate Interest thereon payable from the related Loan Group in respect of such Distribution Date (without regard to any Compensating Interest allocated to the Available Distribution Amount of such Loan Group for such Distribution Date) in the case of an interest portion of a Realized Loss. Any Except as provided in the following sentence, any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Mezzanine Certificate on any Distribution Date Class of Certificates shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date; any provided that no such reduction shall reduce the aggregate Certificate Principal Balance of the Certificates in the Certificate Group related to Loan Group I or Loan Group II and Loan Group III in the aggregate, as applicable, below the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group or Loan Groups. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class C Certificate the related Subordinate Certificates then outstanding with the Lowest Priority shall be made by reducing operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.02(a). Allocations of the interest portions of Realized Losses (other than any interest rate reduction resulting from a Servicing Modification) shall be made in proportion to the amount otherwise payable of Accrued Certificate Interest and by operation of the definition of “Accrued Certificate Interest” and by operation of the provisions of Section 4.02(a). Allocations of the interest portion of a Realized Loss resulting from an interest rate reduction in respect thereof connection with a Servicing Modification shall be made by operation of the provisions of Section 4.02(a). Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.02(a). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby; provided that if any Subclasses of the Class A-V Certificates have been issued pursuant to Section 4.01(d)(v5.01(c). No allocations of any , such Realized Losses and other losses allocated to the Class A-V Certificates shall be made allocated among such Subclasses in proportion to the respective amounts of Accrued Certificate Principal Balances of the Class A Certificates or the Class P CertificatesInterest payable on such Distribution Date that would have resulted absent such reductions.

Allocation of Realized Losses. (a) 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 section 4.08 as the amount by which (A) the aggregate Uncertificated Principal Balance Balances of the REMIC 1 I Regular Interests immediately preceding such Distribution Date exceeds exceed (B) the aggregate Certificate Principal Balance Balances of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-6 Certificates, until 121 the Certificate Principal Balance thereof has been reduced to zero, eighth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, ninth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, tenth, to the Class M-3 M3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, eleventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, twelfth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(d)(xx). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03Net Monthly Excess Cashflow; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; zero and eleventh, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(d)(xix). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All On any Distribution Date, (x) the applicable AP Percentage of the principal portion of each Realized Losses on the Loss (other than any Excess Loss) in respect of a Mortgage Loans Loan will be allocated to the Class AP Certificates until the Class Principal Amount thereof has been reduced to zero; and (y) the applicable Non-AP Percentage of the principal portion of each Realized Loss (other than any Regular Certificate Excess Loss) in respect of a Mortgage Loan shall be allocated by in the Trustee on each Distribution Date as followsfollowing order of priority: first, as provided in Section 1.03, to the interest accrued on Class B6 Certificates, until the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Principal Amount thereof has been reduced to zero; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A B5 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Class Principal Balance Amount thereof has been reduced to zero; third, to the Class M-9 B4 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fourth, to the Class M-8 B3 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fifth, to the Class M-7 B2 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; sixth, to the Class M-6 B1 Certificates, until the Certificate Class Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance Amount thereof has been reduced to zero; and eleventhseventh, to the Classes of Non-AP Senior Certificates and to each Component, pro rata, in accordance with their Class M-1 CertificatesPrincipal Amounts or Component Principal Amount, as applicable; provided, however, that any Realized Loss that would otherwise be allocated to the A10(1) Component will be allocated to the Class A14 Certificates until the Certificate Class Principal Balance thereof Amount of the Class A14 Certificates has been reduced to zero. All Realized Losses to be ; and provided, further, that any such loss 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 Accrual Certificates or Accrual Component shall be allocated (subject to Section 5.03(c)) on the Certificate basis of the lesser of (x) the Class Principal Balance of such Class Amount or Component Principal Amount thereof immediately prior to the relevant applicable Distribution Date, before reduction Date and (y) the Class Principal Amount or Component Principal Amount thereof on the Closing Date (as reduced by any Realized Losses, in each case to be Losses previously 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(vthereto). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modifications, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due in the month in which such Distribution Date occurs. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. 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 to Excess Cash Flow available therefor pursuant to Section 1.03, to 4.02(c) and the interest accrued on the Class C Certificates after the allocation thereto definition of certain interest shortfalls as provided in Section 1.03Principal Distribution Amount for that Distribution Date; second, to payments, if any, made pursuant to the Class C Certificates Yield Maintenance Agreement, and then from the Yield Maintenance Floor Agreement, in accordance with Sections 4.02(i) and (determined for purposes of this Section 4.07 as the amount by which (A) the aggregate Uncertificated Principal Balance of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Datej), until the Certificate Principal Balance thereof has been reduced to zero; third, to in reduction of the Class M-9 CertificatesOvercollateralization Amount, until the Certificate Principal Balance thereof such amount has been reduced to zero; fourth, to the Class M-8 M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, for Realized Losses on the Group I Loans, to the Class M-1 I-A-3, Class I-A-2 and Class I-A-1 Certificates, in that order, until the Certificate Principal Balances thereof have been reduced to zero, for Realized Losses on the Group II Loans, to the Class II-A-3, Class II-A-2 and Class II-A-1 Certificates, in that order, until the Certificate Principal Balances thereof have been reduced to zero and for Realized Losses on the Group III Loans, to the Class III-A-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses , and then, on a pro rata basis, to be allocated to the Class III-A-1, Class III-A-2 and Class III-A-3 Certificates until the Certificate Principal Balances of all Classes on any Distribution Date shall be so allocated after the actual distributions thereof have been reduced 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. 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificateszero.

Allocation of Realized Losses. (a) 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 1.03Net Monthly Excess Cashflow; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhtenth, 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(d)(xix). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.. 107

Allocation of Realized Losses. (a) All On any Distribution Date, (x) the applicable AP Percentage of the principal portion of each Realized Losses on the Loss in respect of a Mortgage Loans Loan will be allocated to the Class A6 Certificates until the Class Principal Amount thereof has been reduced to zero; and (y) the applicable Non-AP Percentage of the principal portion of each Realized Loss (other than any Regular Certificate Excess Loss) in respect of a Mortgage Loan shall be allocated by in the Trustee on each Distribution Date as followsfollowing order of priority: first, as provided in Section 1.03, to the interest accrued on Class B6 Certificates, until the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Principal Amount thereof has been reduced to zero; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A B5 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Class Principal Balance Amount thereof has been reduced to zero; third, to the Class M-9 B4 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fourth, to the Class M-8 B3 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fifth, to the Class M-7 B2 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; sixth, to the Class M-6 B1 Certificates, until the Certificate Class Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance Amount thereof has been reduced to zero; and eleventhseventh, to the Class M-1 Classes of Senior Certificates, until the Certificate pro rata, in accordance with their Class Principal Balance thereof has been reduced to zero. All Realized Losses to be Amounts; provided, that any such loss 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 Accrual Certificates shall be allocated (subject to Section 5.03(c)) on the Certificate basis of the lesser of (x) the Class Principal Balance of such Class Amount thereof immediately prior to the relevant applicable Distribution Date, before reduction Date and (y) the Class Principal Amount thereof on the Closing Date (as reduced by any Realized Losses, in each case to be Losses previously 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(vthereto). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03Net Monthly Excess Cashflow; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourthseventh, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fiftheighth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthninth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventhtenth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eightheleventh, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninthtwelfth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenththirteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; zero and eleventhfourteenth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero and fifteenth, with respect to Realized Losses on the Group I Mortgage Loans, to the Class I-A2 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(d)(xix). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates (except for the Class I-A2 Certificates) or the Class P Certificates.

Allocation of Realized Losses. (a) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modification, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due during the related Due Period. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. All Realized Losses on the Mortgage Loans allocated to any Regular Certificate in a Loan Group shall be allocated by to the Trustee on each Distribution Date Certificates in the related Certificate Group as follows: first, as provided in Section 1.03, to the interest accrued on Class I-B-3 Certificates or the Class C Certificates after II-B-3 Certificates, as applicable, until the allocation thereto of certain interest shortfalls as provided in Section 1.03Certificate Principal Balance thereof has been reduced to zero; second, to the Class C I-B-2 Certificates (determined for purposes of this Section 4.07 as the amount by which (A) the aggregate Uncertificated Principal Balance of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of or the Class A II-B-2 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date)as applicable, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-9 I-B-1 Certificates or the Class II-B-1 Certificates, as applicable, until the Certificate Principal Balance thereof has been reduced to zero; fourth, fourth to the Class M-8 I-M-3 Certificates or the Class II-M-3 Certificates, as applicable, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 I-M-2 Certificates or the Class II-M-2 Certificates, as applicable, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 I-M-1 Certificates or the Class II-M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificatesas applicable, until the Certificate Principal Balance thereof has been reduced to zero; and elevenththereafter, the entire amount of Realized Losses will be allocated (i) to the Sub-Loan Group I-1 Senior Certificates, in the case of Realized Losses on Sub-Loan Group I-1 loans, (ii) to the Sub-Loan Group I-2 Senior Certificates, in the case of Realized Losses on Sub-Loan Group I-2 Loans, (iii) to the Sub-Loan Group I-3 Senior Certificates, in the case of Realized Losses on Sub-Loan Group I-3 Loans, (iv) on a pro rata basis to the Sub-Loan Group II-1 Senior Certificates, in the case of Realized Losses on Sub-Loan Group II-1 Loans and (v) on a pro rata basis to the Sub-Loan Group II-2 Senior Certificates, in the case of Realized Losses on Sub-Loan Group II-2 Loans; provided, however, that such Realized Losses otherwise allocable to the Class M-1 Certificates, I-A2-1 Certificates will be allocated to the Class I-A2-2 Certificates until the Certificate Principal Balance thereof of the Class I-A2-2 Certificates has been reduced to zero, and such Realized Losses otherwise allocable to the Class I-A3-1 Certificates will be allocated to the Class I-A3-2 Certificates until the Certificate Principal Balance of the Class I-A3-2 Certificates has been reduced to zero. All On any Distribution Date, Realized Losses to will be allocated as set forth herein after distributions of principal on the Certificates as set forth herein. 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 of all Classes on any Distribution Date shall be so allocated after the actual prior to giving effect to distributions to be made on such date as provided above. All references above to Distribution Date in the case of the principal portion of a Realized Loss or based on the Accrued 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, Interest thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any Except as provided in the following sentence, any allocation of the principal portion of Realized Losses to a Mezzanine Certificate on any Distribution Date Class of Certificates shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date; any provided that no such reduction shall reduce the aggregate Certificate Principal Balance of the Certificates below the aggregate Stated Principal Balance of the Mortgage Loans. Any allocation of the principal portion of Realized Losses to a Class C Certificate the Subordinate Certificates then outstanding with the Lowest Priority shall be made by reducing operation of the amount otherwise payable in respect thereof pursuant to definition of "Certificate Principal Balance" and by operation of the provisions of Section 4.01(d)(v4.02(a). No allocations Allocations of any the interest portions of Realized Losses (other than any interest rate reduction resulting from a Servicing Modification) shall be made in proportion to the amount of Accrued Certificate Principal Balances Interest and by operation of the definition of "Accrued Certificate Interest" and by operation of the provisions of Section 4.02(a). Allocations of the interest portion of a Realized Loss resulting from an interest rate reduction in connection with a Servicing Modification shall be made by operation of the provisions of Section 4.02(a). All Realized Losses and all other losses allocated to a Class A of Certificates or hereunder will be allocated among the Certificates of such Class P Certificatesin proportion to the Percentage Interests evidenced thereby.

Allocation of Realized Losses. (a) All Realized Losses on the Mortgage Loans allocated to any REMIC II Regular Certificate Interest pursuant to Section 6.05(c) shall be allocated by the Trustee on each Distribution Date as follows: first, as provided in Section 1.03, to Excess Spread through an increased distribution of the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Extra Principal Distribution Amount for such Distribution Date; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the CE Interest and Class A CE Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof or Uncertificated Principal Balance thereof, as applicable, has been reduced to zero; third, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; twelfth, to the related Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; provided, however, any Realized Losses otherwise allocable to the Class I-A-1 Certificates will first be allocated to the Class I-A-2 Certificates, until the Certificate Principal Balance of that Class has been reduced to zero, and then to the Class I-A-1 Certificates, any Realized Losses otherwise allocable to the Class II-A-1 Certificates will first be allocated to the Class II-A-2 Certificates, until the Certificate Principal Balance of that Class has been reduced to zero, and then to the Class II-A-1 Certificates, any Realized Losses otherwise allocable to the Class III-A-1 Certificates will first be allocated to the Class III-A-2 Certificates, until the Certificate Principal Balance of that Class has been reduced to zero, and then to the Class III-A-1 Certificates; and thirteenth, to the unrelated Class or Classes of Class A Certificates, on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero, provided, however, any Realized Losses otherwise allocable to the Class I-A-1 Certificates will first be allocated to the Class I-A-2 Certificates, until the Certificate Principal Balance of that Class has been reduced to zero, and then to the Class I-A-1 Certificates, any Realized Losses otherwise allocable to the Class II-A-1 Certificates will first be allocated to the Class II-A-2 Certificates, until the Certificate Principal Balance of that Class has been reduced to zero, and then to the Class II-A-1 Certificates, and any Realized Losses otherwise allocable to the Class III-A-1 Certificates will first be allocated to the Class III-A-2 Certificates, until the Certificate Principal Balance of that Class has been reduced to zero, and then to the Class III-A-1 Certificates. 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. 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modifications, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due in the month in which such Distribution Date occurs. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. 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 the Excess Cash Flow as part of the Principal Distribution Amount as provided in Section 1.034.02(c), 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 extent of the REMIC 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding Excess Cash Flow for such Distribution Date), second, in reduction of the Overcollateralization Amount, until the Certificate Principal Balance thereof such amount has been reduced to zero; third, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventh, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses ; and twelfth, to the Class A Certificates on a pro rata basis, until the Certificate Principal Balances thereof have been reduced to zero; provided, however, that such losses otherwise allocable to the Class A-2 Certificates will be allocated to the Class A-3 Certificates until the Certificate Principal Balance of the Class A-3 Certificates has been reduced to zero. 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 of all Classes on any Distribution Date shall be so allocated after the actual prior to giving effect to distributions to be made on such date as provided above. All references above Distribution Date in the case of the principal portion of a Realized Loss or based on the Accrued Certificate Interest thereon payable in respect of such Distribution Date (without regard to any Compensating Interest allocated 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 Available Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on Amount for such Distribution Date. Any allocation ) in the case of an interest portion of a 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P CertificatesLoss.

Allocation of Realized Losses. (a) All On any Distribution Date, the principal portion of each Realized Losses on the Loss (other than any Excess Loss) in respect of a Mortgage Loans allocated to any Regular Certificate Loan shall be allocated by in the Trustee on each Distribution Date as followsfollowing order of priority: first, as provided in Section 1.03, to the interest accrued on Class B6 Certificates, until the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03Principal Amount thereof has been reduced to zero; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A B5 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Class Principal Balance Amount thereof has been reduced to zero; third, to the Class M-9 B4 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fourth, to the Class M-8 B3 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; fifth, to the Class M-7 B2 Certificates, until the Certificate Class Principal Balance Amount thereof has been reduced to zero; sixth, to the Class M-6 B1 Certificates, until the Certificate Class Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance Amount thereof has been reduced to zero; and eleventhseventh, to the Class M-1 Classes of Senior Certificates, until the Certificate pro rata, in accordance with their Class Principal Balance thereof has been reduced to zero. All Realized Losses to be Amounts; provided, that any such loss 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 Accrual Certificates shall be allocated (subject to Section 5.03(c)) on the Certificate basis of the lesser of (x) the Class Principal Balance of such Class Amount thereof immediately prior to the relevant applicable Distribution Date, before reduction Date and (y) the Class Principal Amount thereof on the Closing Date (as reduced by any Realized LossesLosses previously allocated thereto). Notwithstanding the foregoing, in each case to the first $0.39 of principal portion of Realized Losses shall not be allocated to such any 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) All On any Distribution Date, (x) the applicable AP Percentage of the principal portion of each Realized Losses on the Loss (other than any Excess Loss) in respect of a Mortgage Loans Loan in each applicable Mortgage Pool will be allocated to the related Class of Principal Only Certificates until the Class Principal Amount thereof has been reduced to zero; and (y) the applicable Non-AP Percentage of the principal portion of each Realized Loss (other than any Regular Certificate Excess Loss) in respect of a Mortgage Loan in each Mortgage Pool shall be allocated by in the Trustee on each Distribution Date as followsfollowing order of priority: first, as provided in Section 1.03, to the interest accrued on related Component of the Class C Certificates after B6 Certificates, until the allocation thereto of certain interest shortfalls as provided in Section 1.03Component Principal Amount thereof has been reduced to zero; 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance related Component of the Class A B5 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Component Principal Balance Amount thereof has been reduced to zero; third, to the related Component of the Class M-9 B4 Certificates, until the Certificate Component Principal Balance Amount thereof has been reduced to zero; fourth, to the related Component of the Class M-8 B3 Certificates, until the Certificate Component Principal Balance Amount thereof has been reduced to zero; fifth, to the related Component of the Class M-7 B2 Certificates, until the Certificate Component Principal Balance Amount thereof has been reduced to zero; sixth, to the related Component of the Class M-6 B1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenth, to the Class M-2 Certificates, until the Certificate Principal Balance Amount thereof has been reduced to zero; and eleventhseventh, to the Classes of Senior Certificates (other than the related Principal Only Certificates) of the related Certificate Group, pro rata, in accordance with their Class M-1 CertificatesPrincipal Amounts; provided, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses to be that any such loss 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 Accrual Certificates shall be allocated (subject to Section 5.03(c)) on the Certificate basis of the lesser of (x) the Class Principal Balance of such Class Amount thereof immediately prior to the relevant applicable Distribution Date, before reduction Date and (y) the Class Principal Amount thereof on the Closing Date (as reduced by any Realized Losses, in each case to be Losses previously 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 Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(vthereto). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates.

Allocation of Realized Losses. (a) 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 1.03to amounts of Excess Cashflow, 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of Overcollateralization Amount, third, to the Class A M-13 Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfourth, to the Class M-12 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-11 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourtheighth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthninth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthtenth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventheleventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthtwelfth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninththirteenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenthfourteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eleventhfifteenth, 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 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. In no event shall Realized Losses be allocated to the Class A-1A Certificates, the Group II Certificates or the Class I Certificates. 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 Certificate shall . Any Subsequent Recoveries will be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of any Realized Losses shall be made allocated to the Certificate Principal Balances Mezzanine Certificates in the reverse order of the Class A Certificates or Realized Loss allocation set forth in the Class P Certificatespreceding paragraph, to the extent of the Realized Loss allocated to each related Certificate.

Allocation of Realized Losses. (a) 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 1.03Net Monthly Excess Cashflow; second, to Prepayment Charges paid on the Mortgage Loans during the related Prepayment Period; provided, however, that only 75% of the Prepayment Charges paid during such Prepayment Period shall be available for such allocation; third, to Net Swap Payments received under the Interest Rate Swap Agreement; fourth 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 1 Regular Interests immediately preceding such Distribution Date exceeds (B) the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero; thirdfifth, to the Class M-11 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-10 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-9 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourtheighth, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifthninth, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixthtenth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventheleventh, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighthtwelfth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; ninththirteenth, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; tenthfourteenth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; zero and eleventhfifteenth, to the Class M-1 Certificates (concurrently, to the Holdes of the Class M-1A Certificates and the Class M-1B Certificates, on a pro rata basis based on the Certificate Principal Balance of each such Class), until the Certificate Principal Balance Balances thereof has have 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 relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of 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 Certificate Certificates shall be made first by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v4.01(d)(iv). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A A-1 Certificates or the Class P Certificates.