Subordination Level. On any specified date, with respect to any Class of Class X-X Regular Interests, the percentage obtained by dividing the aggregate Class Principal Balance of such Class and the Classes of Class X-X Regular Interests which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the REMIC I Regular Interests and the Class R-1 Residual Interest as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on the Mortgage Loans on such date.
Subordination Level. On any specified date, with respect to any Class of Class B Certificates, the percentage obtained by dividing the aggregate Class Principal Balance of the Classes of Class B Certificates which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the Certificates as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on the Mortgage Loans on such date.
Subordination Level. As to any Distribution Date and any Class of Group C-B Certificates, the percentage obtained by dividing the sum of the Class Principal Balances of all Classes of Group C-B Certificates which are subordinate in right of payment to such Class by the sum of the Class Principal Balances of the Group I, Group II, Group III, Group IV, Group V and Group C-B Certificates, in each case immediately prior to such Distribution Date.
Examples of Subordination Level in a sentence
Subordination Level: On any specified date, with respect to any Class of Group 1-B Certificates, the percentage obtained by dividing the aggregate Class Principal Balance of such Class and the Classes of Group 1-B Certificates which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the Group 1 and Class R-1 Residual Certificates as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on such date.
More Definitions of Subordination Level
Subordination Level. On any specified date, with respect to any Class of Subordinate Certificates, the percentage obtained by dividing: (1) the sum of the Class Principal Balances of all Classes of Certificates which are subordinate in right of payment to such Class as of such date before giving effect to distributions or allocations of Realized Losses on the Loans on such date; by (2) the sum of the Class Principal Balances of all Classes of Certificates as of such date before giving effect to distributions or allocations of Realized Losses on the Loans on such date.
Subordination Level. On any specified date, with respect to any Class of Group C-B-L Regular Interests, the percentage obtained by dividing the aggregate Class Principal Balance of the Classes of Group C-B-L Regular Interests which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the Group I-L, Group II-L and Group C-B-L Regular Interests and the Class R-1 Residual Interest as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on the Mortgage Loans on such date.
Subordination Level. On any specified date with respect to any Class of Group II Subordinate Certificates, the percentage obtained by dividing: (1) the sum of the aggregate Certificate Principal Balances of all Classes of Group II Subordinate Certificates which are subordinate in right of payment to such Class as of such date, before giving effect to distributions of principal or allocations of related Realized Losses on such date; by (2) the sum of the aggregate Certificate Principal Balances of all Classes of Group II Certificates (other than the Interest Only Certificates) as of such date, before giving effect to distributions of principal or allocations of related Realized Losses on such date.
Subordination Level. As to any Distribution Date and any Class of Group I Subordinate Certificates, the percentage obtained by dividing the sum of the Class Principal Balances of all Classes of Group I Subordinate Certificates which are subordinate in right of payment to such Class by the sum of the Class Principal Balances of the Group I Certificates, in each case immediately prior to such Distribution Date.
Subordination Level. On any Distribution Date for any Class of Group D-B Certificates, the percentage obtained by dividing the sum of the aggregate Class Principal Balances of all Classes of Group D-B Certificates which are subordinate in right of payment to that Class by the sum of the aggregate Class Principal Balances of all Classes of Certificates, in each case as of the last day of the preceding calendar month.
Subordination Level. On any specified date, with respect to any Class of Group C-B-L Regular Interests, the percentage obtained by dividing the aggregate Class Principal Balance of the Classes of Group C-B-L Regular Interests which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the Class A-P-L, Group I-L, Group II-L, Group III-L and Group C-B-L Regular Interests and the Class R-1 Residual Interest as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on the Mortgage Loans on such date.
Subordination Level. On any specified date, with respect to any Class of Group L-B Certificates, the percentage obtained by dividing the aggregate Class Principal Balance of such Class and the Classes of Group L-B Certificates which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the Group 1, Group 2 and Group L-B Certificates and the Class R-1 Residual Interest as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on such date. On any specified date, with respect to any Class of Group 3-B Certificates, the percentage obtained by dividing the aggregate Class Principal Balance of such Class and the Classes of Group 3-B Certificates which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the Group 3 Certificates as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on such date.