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

Allocation of Senior Reduction Amount to the Reference Tranches. (i) On each Payment Date on or prior to the Group 1 Termination Date, the Senior Reduction Amount with respect to Loan Group 1 will be allocated to reduce the Class Notional Amount of each Group 1 Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero: (A) first, to the Class 1A-H Reference Tranche, (B) second, to the Class 1M-1 and Class 1M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (C) third, to the Class 1M-2A and Class 1M-AH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (D) fourth, to the Class 1M-2B and Class 1M-BH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (E) fifth, to the Class 1M-2C and Class 1M-CH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (F) sixth, to the Class 1B-1 and Class 1B-1H Reference Tranches, pro (G) seventh, to the Class 1B-2H Reference Tranche. (ii) On each Payment Date on or prior to the Group 2 Termination Date, the Senior Reduction Amount with respect to Loan Group 2 will be allocated to reduce the Class Notional Amount of each Group 2 Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero: (A) first, to the Class 2A-H Reference Tranche,

Appears in 1 contract

Sources: Debt Agreement

Allocation of Senior Reduction Amount to the Reference Tranches. (i) On each Payment Date on or prior to the Group 1 Termination Date, the Senior Reduction Amount with respect to Loan Group 1 will be allocated to reduce the Class Notional Amount of each Group 1 Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero: (A) first, to the Class 1A-H Reference Tranche, (B) second, to the Class 1M-1 and Class 1M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (C) third, to the Class 1M-2A 1M-2 and Class 1M-AH 1M-2H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date,, and (D) fourth, to the Class 1M-2B and Class 1M1B-BH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (E) fifth, to the Class 1M-2C and Class 1M-CH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (F) sixth, to the Class 1B-1 and Class 1B-1H Reference Tranches, pro (G) seventh, to the Class 1B-2H H Reference Tranche. (ii) On each Payment Date on or prior to the Group 2 Termination Date, the Senior Reduction Amount with respect to Loan Group 2 will be allocated to reduce the Class Notional Amount of each Group 2 Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero: (A) first, to the Class 2A-H Reference Tranche, (B) second, to the Class 2M-1 and Class 2M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (C) third, to the Class 2M-2 and Class 2M-2H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, and (D) fourth, to the Class 2B-H Reference Tranche.

Appears in 1 contract

Sources: Debt Agreement

Allocation of Senior Reduction Amount to the Reference Tranches. (i) On each Payment Date on or prior to the Group 1 Termination Date, the Senior Reduction Amount with respect to Loan Group 1 will be allocated to reduce the Class Notional Amount of each Group 1 Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero: (A) first, to the Class 1A-H Reference Tranche, (B) second, to the Class 1M-1 and Class 1M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (C) third, to the Class 1M-2A and Class 1M-AH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (D) fourth, to the Class 1M-2B and Class 1M-BH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date,, and (E) fifth, to the Class 1M-2C 1B and Class 1M1B-CH H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (F) sixth, to the Class 1B-1 and Class 1B-1H Reference Tranches, pro (G) seventh, to the Class 1B-2H Reference Tranche. (ii) On each Payment Date on or prior to the Group 2 Termination Date, the Senior Reduction Amount with respect to Loan Group 2 will be allocated to reduce the Class Notional Amount of each Group 2 Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero: (A) first, to the Class 2A-H Reference Tranche, (B) second, to the Class 2M-1 and Class 2M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (C) third, to the Class 2M-2A and Class 2M-AH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (D) 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 (E) fifth, to the Class 2B and Class 2B-H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date.

Appears in 1 contract

Sources: Debt Agreement

Allocation of Senior Reduction Amount to the Reference Tranches. (i) On each Payment Date on or prior to the Group 1 Termination Date, the Senior Reduction Amount with respect to Loan Group 1 will be allocated to reduce the Class Notional Amount of each Group 1 Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero: (A) first, to the Class 1A-H Reference Tranche, (B) second, to the Class 1M-1 and Class 1M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (C) third, to the Class 1M-2A and Class 1M-AH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (D) fourth, to the Class 1M-2B and Class 1M-BH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (E) fifth, to the Class 1M-2C and Class 1M-CH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (F) sixth, to the Class 1B-1 and Class 1B-1H Reference Tranches, propro rata, based on their Class Notional Amounts immediately prior to such Payment Date, and (G) seventh, to the Class 1B-2H Reference Tranche. (ii) On each Payment Date on or prior to the Group 2 Termination Date, the Senior Reduction Amount with respect to Loan Group 2 will be allocated to reduce the Class Notional Amount of each Group 2 Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero: (A) first, to the Class 2A-H Reference Tranche, (B) second, to the Class 2M-1 and Class 2M-1H Reference Tranches, (C) third, to the Class 2M-2A and Class 2M-AH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (D) 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, (E) fifth, to the Class 2M-2C and Class 2M-CH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (F) sixth, to the Class 2B-1 and Class 2B-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, and (G) seventh, to the Class 2B-2H Reference Tranche.

Appears in 1 contract

Sources: Debt Agreement

Allocation of Senior Reduction Amount to the Reference Tranches. (i) On each Payment Date on or prior to the Group 1 Termination Date, the Senior Reduction Amount with respect to Loan Group 1 will be allocated to reduce the Class Notional Amount of each Group 1 Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero: (A) first, to the Class 1A-H Reference Tranche, (B) second, to the Class 1M-1 and Class 1M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (C) third, to the Class 1M-2A and Class 1M-AH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (D) fourth, to the Class 1M-2B and Class 1M-BH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date,, and (E) fifth, to the Class 1M-2C 1B and Class 1M1B-CH H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (F) sixth, to the Class 1B-1 and Class 1B-1H Reference Tranches, pro (G) seventh, to the Class 1B-2H Reference Tranche. (ii) On each Payment Date on or prior to the Group 2 Termination Date, the Senior Reduction Amount with respect to Loan Group 2 will be allocated to reduce the Class Notional Amount of each Group 2 Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero: (A) first, to the Class 2A-H Reference Tranche, (B) second, to the Class 2M-1 and Class 2M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (C) third, to the Class 2M-2A and Class 2M-AH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (D) 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 (E) fifth, to the Class 2B-H Reference Tranche.

Appears in 1 contract

Sources: Debt Agreement

Allocation of Senior Reduction Amount to the Reference Tranches. (i) On each Payment Date on or prior to the Group 1 Termination Date, the Senior Reduction Amount with respect to Loan Group 1 will be allocated to reduce the Class Notional Amount of each Group 1 Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero: (A) first, to the Class 1A-H Reference Tranche, (B) second, to the Class 1M-1 and Class 1M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (C) third, to the Class 1M-2A and Class 1M-AH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (D) fourth, to the Class 1M-2B and Class 1M-BH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (E) fifth, to the Class 1M-2C and Class 1M-CH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (F) sixth, to the Class 1B-1 and Class 1B-1H Reference Tranches, propro rata, based on their Class Notional Amounts immediately prior to such Payment Date, and (G) seventh, to the Class 1B-2H Reference Tranche. (ii) On each Payment Date on or prior to the Group 2 Termination Date, the Senior Reduction Amount with respect to Loan Group 2 will be allocated to reduce the Class Notional Amount of each Group 2 Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero: (A) first, to the Class 2A-H Reference Tranche,

Appears in 1 contract

Sources: Debt Agreement