Common use of Allocation of Senior Reduction Amount to the Reference Tranches Clause in Contracts

Allocation of Senior Reduction Amount to the Reference Tranches. On each Payment Date prior to the Maturity Date and the Early Redemption Date, after allocation of the Calculated Tranche Write-down Amount or Calculated Tranche Write-up Amount, if any, for such Payment Date as described above, the Senior Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero: (i) first, to the Class A-H Reference Tranche, (ii) second, to the Class M-1 and Class M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (iii) third, to the Class M-2 and Class M-2H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, and (iv) fourth, to the Class B-H Reference Tranche.

Allocation of Senior Reduction Amount to the Reference Tranches. On each Payment Date on or prior to the Maturity Date and the Early Redemption Termination Date, after allocation of the Calculated Tranche Write-down Amount or Calculated Tranche Write-up Amount, if any, for such Payment Date as described above, the Senior Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero: (i) first, to the Class A2A-H Reference Tranche, (ii) second, to the Class M-1 2M-1 and Class M-1H 2M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (iii) third, to the Class M-2 2M-2A and Class M-2H 2M-AH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (iv) fourth, to the Class 2M-2B and Class 2M-BH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, and (ivv) fourthfifth, to the Class B2B and Class 2B-H Reference TrancheTranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date.