REMIC II Realized Losses. For any Distribution Date, Realized Losses on Mortgage Loans in Loan Group II for the related Due Period shall be allocated to REMIC II Regular Interests LT5, LT6, LT7 and LT8 as follows: The interest portion of such Realized Losses, if any, shall be allocated to such REMIC II Regular Interests, pro rata according to the amount of interest accrued but unpaid thereon, in reduction thereof. Any interest portion of such Realized Losses in excess of the amount allocated pursuant to the preceding sentence shall be treated as a principal portion of Realized Losses not attributable to any specific Mortgage Loan and allocated pursuant to the succeeding sentences. The principal portion of such Realized Losses shall be allocated to such REMIC II Regular Interests as follows: (1) first, to REMIC II Regular Interests LT6, LT7 and LT8, pro rata according to their respective REMIC II Principal Reduction Amounts, provided that such allocation to such REMIC II Regular Interests shall not exceed their respective REMIC II Principal Reduction Amounts for such Distribution Date, and (2) second, any Realized Losses not allocated to such REMIC II Regular Interests pursuant to the proviso of clause (1) above shall be allocated to REMIC II Regular Interest LT5.
REMIC II Realized Losses. For any Distribution Date, Realized Losses on the Group II Loans for the related Due Period shall be allocated to the REMIC II Regular Interest in reduction of the principal balance thereof until such principal balance has been reduced to zero.
REMIC II Realized Losses. For any Distribution Date, Realized Losses on the Group 7 Mortgage Loans for the related Collection Period shall be allocated to the REMIC II Regular Interests Y-7A, Y-7B, Z-7A and Z-7B as provided in the definition of Realized Loss in reduction of the principal balances thereof and accrued and unpaid interest thereon until such principal balances and accrued and unpaid interest shall have been reduced to zero.
Examples of REMIC II Realized Losses in a sentence
Realized Losses shall be allocated among the Uncertificated REMIC II Regular Interests as specified in the definition of REMIC II Realized Losses.
More Definitions of REMIC II Realized Losses
REMIC II Realized Losses. All Realized Losses on Loan Group 2 shall be allocated first, on each Distribution Date, to REMIC II Regular Interest A-I until such REMIC II Regular Interest has been reduced to zero. Second, Realized Losses shall be allocated to REMIC II Regular Interest II-1-A through REMIC II Regular Interest II-58-B, starting with the lowest numerical denomination until such REMIC II Regular Interest has been reduced to zero, provided that, for REMIC II Regular Interests with the same numerical denomination, such Realized Losses shall be allocated pro rata between such REMIC II Regular Interests.
REMIC II Realized Losses. Each REMIC II Regular Interest will be allocated those Realized Losses that are allocated to the Related Class of Certificates or Components, as applicable, in reduction of the interest or principal attributes thereof to the same extent that such Realized Losses reduced the corresponding attributes of such Related Certificates or Components, as applicable.
REMIC II Realized Losses. For any Distribution Date, Realized Losses on the Group 5 Mortgage Loans for the related Collection Period shall be allocated to the REMIC II Regular Interests Class AL as provided in the definition of Realized Loss in reduction of the principal balances thereof and accrued and unpaid interest thereon until such principal balances and accrued and unpaid interest shall have been reduced to zero.
REMIC II Realized Losses. Realized Losses on Group I Loans and Group II Loans shall be allocated to the REMIC II Regular Interests as follows: (1) The interest portion of Realized Losses on Group I Loans, if any, shall be allocated among the LT1, LT2, LT4 and LT-Y1 REMIC II Regular Interests pro rata according to the amount of interest accrued but unpaid thereon, in reduction thereof; and
REMIC II Realized Losses. Realized Losses on Mortgage Loans shall be allocated to the REMIC II Regular Interests as follows:
REMIC II Realized Losses. Realized Losses on Group I Loans and Group II Loans shall be allocated to the REMIC II Regular Interests as follows: (1) The interest portion of Realized Losses on Group I Loans, if any, shall be allocated among the LT1, LT2, LT4 and LT-Y1 REMIC II Regular Interests pro rata according to the amount of interest accrued but unpaid thereon, in reduction thereof; and (2) the interest portion of Realized Losses on Group II Loans, if any, shall be allocated among the LT5, LT6, LT8 and LT-Y2 REMIC II Regular Interests pro rata according to the amount of interest accrued but unpaid thereon, in reduction thereof. Any interest portion of such Realized Losses in excess of the amount allocated pursuant to the preceding sentence shall be treated as a principal
REMIC II Realized Losses. For any Distribution Date, Realized Losses on the Group I Mortgage Loans for the related Due Period shall be allocated, as follows: (i) the interest portion of Realized Losses, if any, shall be allocated pro rata to accrued interest on the REMIC II Regular Interests to the extent of such accrued interest, and (ii) any remaining interest portions of Realized Losses and any principal portions of Realized Losses shall be treated as principal portions of Realized Losses and allocated (i) first, to each of the REMIC II Regular Interests (other than REMIC II Regular Interest LT1), pro rata according to their respective REMIC II Principal Reduction Amounts to the extent thereof in reduction of the Uncertificated Principal Balance of such REMIC II Regular Interests; and (ii) second, the remainder, if any, of such principal portion of such Realized Losses shall be allocated to REMIC II Regular Interest LT1 in reduction of the Uncertificated Principal Balance thereof.