Allocation of Tranche Write-down Amounts to the Reference Tranches Sample Clauses

Allocation of Tranche Write-down Amounts to the Reference Tranches. On each Payment Date on or prior to the Termination Date, the amount, if any, of the Tranche Write- down Amount for that Payment Date will be allocated, first, to reduce any Overcollateralization Amount for such Payment Date, until such Overcollateralization Amount is reduced to zero, and, second, 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 B and Class B-H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (ii) second, to the Class M-3B and Class M-3BH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (iii) third, to the Class M-3A and Class M-3AH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (iv) fourth, 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, (v) fifth, 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, and (vi) sixth, to the Class A-H Reference Tranche, but only in an amount equal to the excess, if any, of the remaining unallocated Tranche Write-down Amount for such Payment Date over the Principal Loss Amount for such Payment Date attributable to clause (d) of the definition of “Principal Loss Amount”.
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Allocation of Tranche Write-down Amounts to the Reference Tranches. On each Payment Date on or prior to the Termination Date, after allocation of the Senior Reduction Amount and Subordinate Reduction Amount, the Tranche Write-down Amount, if any, for such Payment Date, will be allocated, first, to reduce any Overcollateralization Amount for such Payment Date until the Overcollateralization Amount is reduced to zero, and, second, to reduce the Class Notional Amount of each 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 1B-2H Reference Tranche, (ii) second, to the Class 1B-1 and Class 1B-1H Reference Tranches, pro rata, based on their Class Notional Amounts, (iii) third, to the Class 1M-2C and Class 1M-CH Reference Tranches, pro rata, based on their Class Notional Amounts, (iv) fourth, to the Class 1M-2B and Class 1M-BH Reference Tranches, pro rata, based on their Class Notional Amounts, (v) fifth, to the Class 1M-2A and Class 1M-AH Reference Tranches, pro rata, based on their Class Notional Amounts, (vi) sixth, to the Class 1M-1 and Class 1M-1H Reference Tranches, pro rata, based on their Class Notional Amounts, and (vii) seventh, to the Class 1A-H Reference Tranche (up to the amount of any remaining unallocated Tranche Write-down Amounts less the amount attributable to clause (d) of the definition of "Principal Loss Amount"). For the avoidance of doubt, no Tranche Write-down Amount will be applied twice on the same Payment Date.
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Allocation of Tranche Write-down Amounts to the Reference Tranches. On each Payment Date on or prior to the Termination Date, after allocation of the Senior Reduction Amount and Subordinate Reduction Amount, the Tranche Write-down Amount, if any, for such Payment Date, will be allocated, first, to reduce any Overcollateralization Amount for such Payment Date until the Overcollateralization Amount is reduced to zero, and, second, to reduce the Class Notional Amount of each 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 1B and Class 1B-H Reference Tranches, pro rata, based on their Class Notional Amounts, (ii) second, to the Class 1M-2B and Class 1M-BH Reference Tranches, pro rata, based on their Class Notional Amounts, (iii) third, to the Class 1M-2A and Class 1M-AH Reference Tranches, pro rata, based on their Class Notional Amounts, (iv) fourth, to the Class 1M-1 and Class 1M-1H Reference Tranches, pro rata, based on their Class Notional Amounts, and (v) fifth, to the Class 1A-H Reference Tranche.
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Allocation of Tranche Write-down Amounts to the Reference Tranches. On each Payment Date on or prior to the Termination Date, the amount, if any, of the Tranche Write- down Amount for that Payment Date, 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 B and Class B-H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, (ii) second, to the Class M-3 and Class M-3H 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, (iv) fourth, 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, and, (v) fifth, to the Class A-H Reference Tranche.
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Allocation of Tranche Write-down Amounts to the Reference Tranches. (i) On each Payment Date on or prior to the Group 1 Termination Date, after allocation of the Senior Reduction Amount and Subordinate Reduction Amount with respect to Loan Group 1, the Tranche Write-down Amount for the Group 1 Notes, if any, for such Payment Date, will be allocated, first, to reduce any Overcollateralization Amount for Loan Group 1 for such Payment Date until the Overcollateralization Amount is reduced to zero, and, second, 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 1B and Class 1B-H Reference Tranches, pro rata, based on their Class Notional Amounts, (B) second, to the Class 1M-2B and Class 1M-BH Reference Tranches, pro rata, based on their Class Notional Amounts, (C) third, to the Class 1M-2A and Class 1M-AH Reference Tranches, (D) fourth, to the Class 1M-1 and Class 1M-1H Reference Tranches, (E) fifth, to the Class 1A-H Reference Tranche. (ii) On each Payment Date on or prior to the Group 2 Termination Date, after allocation of the Senior Reduction Amount and Subordinate Reduction Amount with respect to Loan Group 2, the Tranche Write-down Amount for the Group 2 Notes, if any, for such Payment Date, will be allocated, first, to reduce any Overcollateralization Amount for Loan Group 2 for such Payment Date until the Overcollateralization Amount is reduced to zero, and, second, 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 2B-H Reference Tranche, (B) second, to the Class 2M-2B and Class 2M-BH Reference Tranches, pro rata, based on their Class Notional Amounts, (C) third, to the Class 2M-2A and Class 2M-AH Reference Tranches, (D) fourth, to the Class 2M-1 and Class 2M-1H Reference Tranches, (E) fifth, to the Class 2A-H Reference Tranche.
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Related to Allocation of Tranche Write-down Amounts to the Reference Tranches

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