Common use of Allocation of Tranche Write-down Amounts to the Reference Tranches Clause in Contracts

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.

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 2B and Class 1B2B-H Reference Tranches, pro rata, based on their Class Notional Amounts, (ii) second, to the Class 1M-2B 2M-2B and Class 1M2M-BH Reference Tranches, pro rata, based on their Class Notional Amounts, (iii) third, to the Class 1M-2A 2M-2A and Class 1M2M-AH Reference Tranches, pro rata, based on their Class Notional Amounts, (iv) fourth, to the Class 1M-1 2M-1 and Class 1M-1H 2M-1H Reference Tranches, pro rata, based on their Class Notional Amounts, and (v) fifth, to the Class 1A2A-H Reference Tranche. For the avoidance of doubt, no Tranche Write-down Amount will be applied twice on the same Payment Date.

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 2B-2H Reference Tranches, pro rata, based on their Class Notional AmountsTranche, (ii) second, to the Class 1M-2B 2B-1 and Class 1M-BH 2B-1H Reference Tranches, pro rata, based on their Class Notional Amounts, (iii) third, to the Class 1M-2A 2M-2C and Class 1M2M-AH CH Reference Tranches, pro rata, based on their Class Notional Amounts, (iv) fourth, to the Class 1M-1 2M-2B and Class 1M-1H 2M-BH Reference Tranches, pro rata, based on their Class Notional Amounts, (v) fifth, to the Class 2M-2A and Class 2M-AH Reference Tranches, pro rata, based on their Class Notional Amounts, (vi) sixth, to the Class 2M-1 and Class 2M-1H Reference Tranches, pro rata, based on their Class Notional Amounts, and (v) fifth, to the Class 1A-H Reference Tranche.

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 1B-2H Reference Tranche, (ii) second, to the Class 1B-1 and Class 1B-H 1B-1H Reference Tranches, pro rata, based on their Class Notional Amounts, (iiiii) secondthird, 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, (iiiv) thirdfifth, to the Class 1M-2A and Class 1M-AH Reference Tranches, pro rata, based on their Class Notional Amounts, (ivvi) fourthsixth, 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.

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. For the avoidance of doubt, no Tranche Write-down Amount will be applied twice on the same Payment Date.