Common use of Realized Losses Clause in Contracts

Realized Losses. On each Distribution Date, Realized Losses and Special Losses (other than Excess Special Losses) realized during the prior calendar month shall be allocated to reduce the Class Principal Balances of the Subordinate Certificates in reverse numerical order, in each case until the Class Principal Balance of each such Class has been reduced to zero. If the Class Principal Balances of the Subordinate Certificates have been reduced to zero, further Realized Losses and Special Losses shall be allocated to the Senior Certificates related to the Loan Group in which such Realized Losses or Special Losses occurred, based on the outstanding Class Principal Balances of such Senior Certificates, in each case until each such Class Principal Balance has been reduced to zero; provided, however, that Realized Losses (other than Excess Special Losses) otherwise allocable to the Class 1A1 Certificates shall first be allocated to the Class 1A2 Certificates, to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero, and thereafter such Realized Losses shall be allocated to the Class 1A1 Certificates, to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero. On any Distribution Date, any Excess Special Losses realized during the prior calendar month shall be allocated, pro rata, to (x) all Classes of Senior Certificates related to the Loan Group in which such losses occurred and (y) the Subordinate Certificates, based on the aggregate Class Principal Balance of such Senior Certificates and the related Group Subordinate Amount of the Subordinate Certificates, respectively. Whenever Realized Losses, Special Losses or Excess Special Losses are required to be allocated to a Class of Certificates, the Realized Loss, Special Loss or Excess Special Loss, as applicable, shall be allocated to Certificates of such Class of the related Loan Group or Loan Groups, as the case may be, based on their respective outstanding principal amounts.

Appears in 1 contract

Samples: Flow Servicing Agreement (GSAA Home Equity Trust 2006-4)

AutoNDA by SimpleDocs

Realized Losses. On each any Distribution Date, following distributions to be made on that Distribution Date, any Realized Losses and Special Losses allocated (other than Excess Special Lossesi) realized during to the prior calendar month shall Underlying Group I Certificates will be allocated first to reduce the Class Principal Balances of the Subordinate I-A-2 Certificates in reverse numerical order, in each case until the Current Principal Amount thereof has been reduced to zero and then to the Class I-A-1 Certificates until the Current Principal Balance of each such Class Amount thereof has been reduced to zero. If , (ii) to the Underlying Group II Certificates will be allocated first to the Class II-A-2 Certificates until the Current Principal Balances of Amount thereof has been reduced to zero and then to the Subordinate Class II-A-1 Certificates have until the Current Principal Amount thereof has been reduced to zero, further Realized Losses and Special Losses shall (iii) to the Underlying Group III Certificates will be allocated first to the Senior Class III-A-2 Certificates related until the Current Principal Amount thereof has been reduced to zero and then to the Loan Group in which such Realized Losses or Special Losses occurred, based on Class III-A-1 Certificates until the outstanding Class Current Principal Balances of such Senior Certificates, in each case until each such Class Principal Balance Amount thereof has been reduced to zero; provided, however, that Realized Losses (other than Excess Special Lossesiv) otherwise allocable to the Underlying Group IV Certificates will be allocated first to the Class 1A1 IV-A-2 Certificates shall first be allocated until the Current Principal Amount thereof has been reduced to zero and then to the Class 1A2 Certificates, to reduce IV-A-1 Certificates until the Certificate Balance of such Class until such Certificate Balance Current Principal Amount thereof has been reduced to zero, and thereafter such Realized Losses shall (v) to the Underlying Group VI Certificates will be allocated to the Class 1A1 VI-A-2, Class VI-A-1c, Class VI-A-1b and Class VI-A-1a Certificates, to reduce in that order, until the Certificate Balance Current Principal Amount of each such Class until such Certificate Balance thereof has been reduced to zero. On any Distribution Date, any Excess Special Losses realized during The rights of the prior calendar month shall Class V-A-2 Certificates to receive distributions will be allocated, pro rata, to (x) all Classes of Senior Certificates related subordinated to the Loan Class V-A-1a, Class V-A-1b and Class V-A-1c Certificates to the extent of any Realized Losses allocated to the Underlying Group in which such losses occurred and (y) the Subordinate V Certificates, based on as further described under clause 3.05(a)(V) of this Agreement. The rights of the aggregate Class Principal Balance of such Senior V-A-1c Certificates to receive distributions will be subordinated to the Class V-A-1a Certificates and the related Class V-A-1b Certificates to the extent of any Realized Losses allocated to the Underlying Group Subordinate Amount V Certificates, as further described under clause 3.05(a)(V) of this Agreement. The rights of the Subordinate Class V-A-1b Certificates to receive distributions will be subordinated to the Class V-A-1a Certificates to the extent of any Realized Losses allocated to the Underlying Group V Certificates, respectively. Whenever Realized Losses, Special Losses or Excess Special Losses are required to be allocated to a Class as further described under clause 3.05(a)(V) of Certificates, the Realized Loss, Special Loss or Excess Special Loss, as applicable, shall be allocated to Certificates of such Class of the related Loan Group or Loan Groups, as the case may be, based on their respective outstanding principal amountsthis Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Structured Products Inc. Trust 2007-R8)

Realized Losses. On each any Distribution Date, following distributions to be made on that Distribution Date, any Realized Losses and Special Losses allocated (other than Excess Special Lossesi) realized during to the prior calendar month shall Underlying Group I Certificates will be allocated first to reduce the Class Principal Balances of the Subordinate I-A-2 Certificates in reverse numerical order, in each case until the Current Principal Amount thereof has been reduced to zero and then to the Class I-A-1 Certificates until the Current Principal Balance of each such Class Amount thereof has been reduced to zero. If , (ii) to the Underlying Group II Certificates will be allocated first to the Class II-A-2 Certificates until the Current Principal Balances of Amount thereof has been reduced to zero and then to the Subordinate Class II-A-1 Certificates have until the Current Principal Amount thereof has been reduced to zero, further Realized Losses and Special Losses shall (iii) to the Underlying Group III Certificates will be allocated first to the Senior Class III-A-2 Certificates related until the Current Principal Amount thereof has been reduced to zero and then to the Loan Group in which such Realized Losses or Special Losses occurred, based on Class III-A-1 Certificates until the outstanding Class Current Principal Balances of such Senior Certificates, in each case until each such Class Principal Balance Amount thereof has been reduced to zero; provided, however, that Realized Losses (other than Excess Special Lossesiv) otherwise allocable to the Underlying Group IV Certificates will be allocated first to the Class 1A1 IV-A-2 Certificates shall first be allocated until the Current Principal Amount thereof has been reduced to zero and then to the Class 1A2 Certificates, to reduce IV-A-1 Certificates until the Certificate Balance of such Class until such Certificate Balance Current Principal Amount thereof has been reduced to zero, and thereafter such Realized Losses shall (v) to the Underlying Group VI Certificates will be allocated to the Class 1A1 VI-A-2, Class VI-A-1c, Class VI-A-1b and Class VI-A-1a Certificates, to reduce in that order, until the Certificate Balance Current Principal Amount of each such Class until such Certificate Balance thereof has been reduced to zero. On any Distribution Date, any Excess Special Losses realized during The rights of the prior calendar month shall Class V-A-2 Certificates to receive distributions will be allocated, pro rata, to (x) all Classes of Senior Certificates related subordinated to the Loan Class V-A-1a, Class V-A-1b and Class V-A-1c Certificates to the extent of any Realized Losses allocated to the Underlying Group in which such losses occurred and (y) the Subordinate V Certificates, based on as further described under clause 3.05(a)(V) of this Agreement. The rights of the aggregate Class Principal Balance of such Senior V-A-1c Certificates to receive distributions will be subordinated to the Class V-A-1a Certificates and the related Class V-A-1b Certificates to the extent of any Realized Losses allocated to the Underlying Group Subordinate Amount V Certificates, as further described under clause 3.05(a)(V) of this Agreement. The rights of the Subordinate Class V-A-1b Certificates to receive distributions will be subordinated to the Class V-A-1a Certificates to the extent of any Realized Losses allocated to the Underlying Group V Certificates, respectively. Whenever Realized Losses, Special Losses or Excess Special Losses are required to be allocated to a Class as further described under clause 3.05(a)(V) of Certificates, the Realized Loss, Special Loss or Excess Special Loss, as applicable, shall be allocated to Certificates of such Class of the related Loan Group or Loan Groups, as the case may be, based on their respective outstanding principal amounts.this Agreement

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Structured Products Inc. Trust 2007-R8)

Realized Losses. (i) On each Distribution Date, Realized Losses and Special Losses (other than Excess Special Losses) realized during the prior calendar month shall will be allocated to reduce the Class Principal Balances of the Subordinate Certificates in reverse numerical order, in each case until the Class Principal Balance of each such Class has been reduced to zero. If the Class Principal Balances of all of the Subordinate Certificates have been reduced to zero, further Realized Losses and (other than Excess Special Losses Losses) on the Mortgage Loans shall be allocated to the Senior Certificates related to the Loan Group in which such Realized Losses or Special Losses occurred, occurred based on the their outstanding Class Principal Balances of such Senior CertificatesBalances, in each case until each such the Class Principal Balance has been reduced to zero; provided, however, that Realized Losses (other than Excess Special Losses) otherwise allocable to the Class 1A1 Certificates 3A1 Certificates, shall first be allocated to the Class 1A2 3A2 Certificates, to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero, and thereafter such Realized Losses shall be allocated to the Class 1A1 3A1 Certificates, to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero. On any Distribution Date, any zero and that Realized Losses (other than Excess Special Losses realized during the prior calendar month shall be allocated, pro rata, to (xLosses) all Classes of Senior Certificates related otherwise allocable to the Loan Group in which such losses occurred and (y) the Subordinate Certificates, based on the aggregate Class Principal Balance of such Senior 5A7 Certificates and the related Group Subordinate Amount of the Subordinate Certificates, respectively. Whenever Realized Losses, Special Losses or Excess Special Losses are required to be allocated to a Class of Certificates, the Realized Loss, Special Loss or Excess Special Loss, as applicable, shall be allocated to the Class 5A8 Certificates to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero, and thereafter such Realized Losses shall be allocated to the Class 5A7 Certificates to reduce the Certificate Balance of the related Loan Group or Loan Groups, as the case may be, based on their respective outstanding principal amountssuch Class until such Certificate Balance has been reduced to zero.

Appears in 1 contract

Samples: Custodial Agreement (GS Mortgage GSR Loan Trust 2004-9)

Realized Losses. (i) On each Distribution Date, Realized Losses and Special Losses (other than Excess Special Losses) realized during the prior calendar month shall be allocated to reduce the Class Principal Balances of the Subordinate Certificates in reverse numerical order, in each case until the Class Principal Balance of each such Class has been reduced to zero. If the Class Principal Balances of the Subordinate Certificates have been reduced to zero, further Realized Losses and Special Losses shall be allocated to the Senior Certificates related to the Loan Group in which such Realized Losses or Special Losses occurred, based on the outstanding Class Principal Balances of such Senior Certificates, in each case until each such Class Principal Balance has been reduced to zero; provided, however, that Realized Losses (other than Excess Special Losses) otherwise allocable to the Class 1A1 1A1, Class 1A3 or Class 1A4 Certificates shall first be allocated to the Class 1A2 Certificates, Certificates to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero, and thereafter such Realized Losses shall be allocated to the Class 1A1 1A1, Class 1A3 or Class 1A4 Certificates, as applicable, to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero. On any Distribution Date; provided, any further, that Realized Losses (other than Excess Special Losses realized during the prior calendar month shall be allocated, pro rata, to (xLosses) all Classes of Senior Certificates related otherwise allocable to the Loan Group in which such losses occurred and (y) Class 2A1 Certificates shall first be allocated to the Subordinate Certificates, based on Class 2A2 Certificates to reduce the aggregate Class Principal Certificate Balance of such Senior Certificates Class until such Certificate Balance has been reduced to zero, and the related Group Subordinate Amount of the Subordinate Certificates, respectively. Whenever thereafter such Realized Losses, Special Losses or Excess Special Losses are required to be allocated to a Class of Certificates, the Realized Loss, Special Loss or Excess Special Loss, as applicable, shall be allocated to the Class 2A1 Certificates to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero; provided, further, that Realized Losses (other than Excess Special Losses) otherwise allocable to the Class 3A1 Certificates shall first be allocated to the Class 3A2 Certificates to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero, and thereafter such Realized Losses shall be allocated to the related Loan Group or Loan GroupsClass 3A1 Certificates to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero; and provided, as further, that Realized Losses (other than Excess Special Losses) otherwise allocable to the case may beClass 4A1 Certificates shall first be allocated to the Class 4A2 Certificates to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero, based on their respective outstanding principal amountsand thereafter such Realized Losses shall be allocated to the Class 4A1 Certificates to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero.

Appears in 1 contract

Samples: Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2005-Ar6)

Realized Losses. (i) On each Distribution Date, Realized Losses and Special Losses (other than Excess Special Losses) realized during the prior calendar month shall be allocated to reduce the Class Principal Balances of the related Subordinate Certificates in reverse numerical order, in each case until the Class Principal Balance of each such Class has been reduced to zero. If the Class Principal Balances of the Track 1 Subordinate Certificates have been reduced to zero, further Realized Losses and Special Losses on the Track 1 Loans shall be allocated to the Senior Certificates related to the Loan Group or Loan Groups in which such Realized Losses or Special Losses occurred, based on the outstanding Class Principal Balances of such Senior Certificates, in each case until each such Class Principal Balance has been reduced to zero. If the Class Principal Balances of the Track 2 Subordinate Certificates have been reduced to zero, further Realized Losses and Special Losses on the Track 2 Loans shall be allocated to the Senior Certificates related to the Loan Group or Loan Groups in which such Realized Losses or Special Losses occurred, based on the outstanding Class Principal Balances of such Senior Certificates, in each case until each such Class Principal Balance has been reduced to zero; provided, however, that Realized Losses (other than Excess Special Losses) otherwise allocable to the Class 1A1 3A2 Certificates shall first be allocated to the Class 1A2 3A3 Certificates, to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero, and thereafter such Realized Losses shall be allocated to the Class 1A1 3A2 Certificates, to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero. On any Distribution Date, any Excess Special Losses realized during the prior calendar month shall be allocated, pro rata, to (x) all Classes of Senior Certificates related to the Loan Group in which such losses occurred and (y) the Subordinate Certificates, based on the aggregate Class Principal Balance of such Senior Certificates and the related Group Subordinate Amount of the Subordinate Certificates, respectively. Whenever Realized Losses, Special Losses or Excess Special Losses are required to be allocated to a Class of Certificates, the Realized Loss, Special Loss or Excess Special Loss, as applicable, shall be allocated to Certificates of such Class of the related Loan Group or Loan Groups, as the case may be, based on their respective outstanding principal amounts.

Appears in 1 contract

Samples: Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2005-Ar4)

Realized Losses. (i) On each Distribution Date, Realized Losses and Special Losses (other than Excess Special Losses) realized during the prior calendar month shall be allocated to reduce the Class Principal Balances of the related Subordinate Certificates in reverse numerical order, in each case until the Class Principal Balance of each such Class has been reduced to zero. If the Class Principal Balances of the Short Reset Group Subordinate Certificates have been reduced to zero, further Realized Losses and Special Losses (other than Excess Special Losses) on the Short Reset Group Loans shall be allocated to the Senior Certificates related to the Loan Group or Loan Groups in which such Realized Losses or Special Losses (other than Excess Special Losses) occurred, based on the outstanding Class Principal Balances of such Senior Certificates, in each case until each such Class Principal Balance has been reduced to zero. If the Class Principal Balances of the Hybrid Group Subordinate Certificates have been reduced to zero, further Realized Losses and Special Losses (other than Excess Special Losses) on the Hybrid Group Loans shall be allocated to the Senior Certificates related to the Loan Group or Loan Groups in which such Realized Losses or Special Losses (other than Excess Special Losses) occurred, based on the outstanding Class Principal Balances of such Senior Certificates, in each case until each such Class Principal Balance has been reduced to zero; provided, however, that Realized Losses (other than Excess Special Losses) otherwise allocable (A) to the Class 1A1 3A1 Certificates shall first be allocated to the Class 1A2 3A2 Certificates, to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero, and thereafter such Realized Losses shall be allocated to the Class 1A1 3A1 Certificates, to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero. On any Distribution Date, any Excess Special Losses realized during (B) to the prior calendar month Class 6A1 Certificates shall first be allocated, pro rataallocated to the Class 6A2 Certificates, to (x) all Classes of Senior Certificates related to reduce the Loan Group in which such losses occurred and (y) the Subordinate Certificates, based on the aggregate Class Principal Certificate Balance of such Senior Certificates Class until such Certificate Balance has been reduced to zero, and the related Group Subordinate Amount of the Subordinate Certificates, respectively. Whenever thereafter such Realized Losses, Special Losses or Excess Special Losses are required to be allocated to a Class of Certificates, the Realized Loss, Special Loss or Excess Special Loss, as applicable, shall be allocated to Certificates the Class 6A1 Certificates, to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero and (C) to the Class 8A1 Certificates shall first be allocated to the Class 8A2 Certificates, to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero, and thereafter such Realized Losses shall be allocated to the related Loan Group or Loan GroupsClass 8A1 Certificates, as to reduce the case may be, based on their respective outstanding principal amountsCertificate Balance of such Class until such Certificate Balance has been reduced to zero.

Appears in 1 contract

Samples: Custodial Agreement (GSR Mortgage Loan Trust 2005-Ar3)

AutoNDA by SimpleDocs

Realized Losses. (i) On each Distribution Date, Realized Losses and Special Losses (other than Excess Special Losses) realized during the prior calendar month shall be allocated to reduce the Class Principal Balances of the Subordinate Certificates in reverse numerical order, in each case until the Class Principal Balance of each such Class has been reduced to zero. If the Class Principal Balances of the Subordinate Certificates have been reduced to zero, further Realized Losses and Special Losses (other than Excess Special Losses) on the Mortgage Loans shall be allocated to the Senior Certificates related to the Loan Group in which such Realized Losses or Special Losses (other than Excess Special Losses) occurred, based on the outstanding Class Principal Balances of such Senior Certificates, in each case until each such Class Principal Balance has been reduced to zero; provided, however, that Realized Losses (other than Excess Special Losses) otherwise allocable to the Class 1A1 Certificates 3A1 Certificates, shall first be allocated to the Class 1A2 3A2 Certificates, to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero, and thereafter such Realized Losses shall be allocated to the Class 1A1 3A1 Certificates, to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero. On any Distribution Date; and provided, any further, that Realized Losses (other than Excess Special Losses realized during Losses) otherwise allocable to the prior calendar month Class 4A1 Certificates, shall first be allocated, pro rataallocated to the Class 4A2 Certificates, to (x) all Classes of Senior Certificates related to reduce the Loan Group in which such losses occurred and (y) the Subordinate Certificates, based on the aggregate Class Principal Certificate Balance of such Senior Certificates Class until such Certificate Balance has been reduced to zero, and the related Group Subordinate Amount of the Subordinate Certificates, respectively. Whenever thereafter such Realized Losses, Special Losses or Excess Special Losses are required to be allocated to a Class of Certificates, the Realized Loss, Special Loss or Excess Special Loss, as applicable, shall be allocated to Certificates the Class 4A1 Certificates, to reduce the Certificate Balance of such Class of the related Loan Group or Loan Groups, as the case may be, based on their respective outstanding principal amountsuntil such Certificate Balance has been reduced to zero.

Appears in 1 contract

Samples: Custodial Agreement (GSR Mortgage Loan Trust 2005-Ar1)

Realized Losses. On each Distribution Date, Realized Losses and Special Losses (other than Excess Special Losses) realized during the prior calendar month shall be allocated to reduce the Class Principal Balances of the Subordinate Certificates in reverse numerical order, in each case until the Class Principal Balance of each such Class has been reduced to zero. If the Class Principal Balances of the Subordinate Certificates have been reduced to zero, further Realized Losses and Special Losses shall be allocated to the Senior Certificates related to the Loan Group in which such Realized Losses or Special Losses occurred, based on the outstanding Class Principal Balances of such Senior Certificates, in each case until each such Class Principal Balance has been reduced to zero; provided, however, that Realized Losses (other than Excess Special Losses) otherwise allocable to the Class 1A1 Certificates shall first be allocated to the Class 1A2 Certificates, to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero, and thereafter such Realized Losses shall be allocated to the Class 1A1 Certificates, to reduce the Certificate Balance of such Class until such Certificate Balance has been reduced to zero; provided, further, that Realized Losses (other than Excess Special Losses) otherwise allocable to the Class 2A1, Class 2A2, Class 2A3 and Class 2A4 Certificates shall first be allocated to the Class 2A5 Certificates, to reduce the Certificate Balance of such Class until such Certificate balance has been reduced to zero, and thereafter such Realized Losses shall be allocated to the Class 2A1, Class 2A2, Class 2A3 and Class 2A4 Certificates, to reduce the Certificate Balance of such Classes until such Certificate balances have been reduced to zero; and provided, further, that Realized Losses (other than Excess Special Losses) otherwise allocable to the Class 3A1 Certificates shall first be allocated to the Class 3A2 Certificates, to reduce the Certificate Balance of such Class until such Certificate balance has been reduced to zero, and thereafter such Realized Losses shall be allocated to the Class 3A1 Certificates, to reduce the Certificate Balance of such Class until such Certificate balance has been reduced to zero. On any Distribution Date, any Excess Special Losses realized during the prior calendar month shall be allocated, pro rata, to (x) all Classes of Senior Certificates related to the Loan Group in which such losses occurred and (y) the Subordinate Certificates, based on the aggregate Class Principal Balance of such Senior Certificates and the related Group Subordinate Amount of the Subordinate Certificates, respectively. Whenever Realized Losses, Special Losses or Excess Special Losses are required to be allocated to a Class of Certificates, the Realized Loss, Special Loss or Excess Special Loss, as applicable, shall be allocated to Certificates of such Class of the related Loan Group or Loan Groups, as the case may be, based on their respective outstanding principal amounts.

Appears in 1 contract

Samples: Custodial Agreement (GSR Mortgage Loan Trust 2006-Ar1)

Realized Losses. (i) On each Distribution Date, Realized Losses and Special Losses (other than Excess Special Losses) realized during for the prior calendar month related Due Period shall be allocated applied, prior to making any distributions to be made on such Distribution Date, to reduce the Class Principal Balances Certificate Balance of the Subordinate Certificates in reverse numerical order, in each case Class BI Interest until the Class Principal Certificate Balance of each such Class thereof has been reduced to zero. If zero and thereafter pro rata to the Class Principal AI Interests, until the Certificate Balances of the Subordinate Certificates thereof have been reduced to zero, further Realized Losses and Special Losses shall be allocated to the Senior Certificates related to the Loan Group in which such Realized Losses or Special Losses occurred, based on the outstanding Class Principal Balances of such Senior Certificates, in each case until each such Class Principal Balance has been reduced to zero; provided, however, that any Excess Special Losses shall be allocated to the outstanding Classes of REMIC I Interests based on Pro Rata Allocation; provided, further, that, for so long as the Class 2A2 and Class 1A12 Interests remain outstanding, any amount of Realized Losses (other than Excess Special Losses) otherwise allocable on such Distribution Date to the Class 1A1 Certificates 2A1 Interests and the Class 1A11 Interests shall first instead be allocated to the Class 1A2 Certificates2A2 and Class 1A12 Interests, to reduce respectively, in reduction of the Certificate Balance of such Class Balances thereof, until such Certificate Balance has been reduced to zero, and thereafter such Realized Losses shall be allocated to the Class 1A1 Certificates, to reduce the Certificate Balance of such Class until such Certificate Balance has Balances thereof have been reduced to zero. On Any such additional loss amounts allocated to the Class 2A2 and Class 1A12 Interests on any Distribution Date, any Excess Special Losses realized during the prior calendar month Date shall be allocatedin addition to any loss amounts otherwise allocable to such Classes on such Distribution Date. Unless otherwise expressly provided herein, pro rata, to (x) all Classes of Senior Certificates related to the Loan Group in which such losses occurred and (y) the Subordinate Certificates, based on the aggregate Class Principal Balance of such Senior Certificates and the related Group Subordinate Amount of the Subordinate Certificates, respectively. Whenever whenever Realized Losses, Special Losses or Excess Special Losses are required to be allocated to pro rata between two or more Classes of Certificates or Interests or among the Certificates of a Class of CertificatesClass, the interest portion of any such Realized Loss, Special Loss shall be so allocated based on the aggregate amount of interest otherwise due and owing to each such Class or Excess Special LossCertificate and the principal portion of any such Realized Loss shall be so allocated based on the Certificate Balance of each such Class or the outstanding principal amount of each such Certificate, as applicable, shall be allocated to Certificates of such Class of the related Loan Group or Loan Groups, as the case may be, based on their respective outstanding principal amounts.

Appears in 1 contract

Samples: Trust Agreement (Gs Mortgage Sec Corp Mortgage Pass THR Certs Ser 2003-10)

Time is Money Join Law Insider Premium to draft better contracts faster.