Component Sequential Order definition
Component Sequential Order means (i) with respect to each A Note, (a) in the case of Note A-1, Note A-2, Note A-3 and Note A-4, to the reduction of the principal balance of Component A, until the principal balance of such Component is reduced to zero, and (b) in the case of each Non-Lead Note, to the reduction of the principal balance of Component A-C, until the principal balance of such Component is reduced to zero, and (ii) with respect to each B Note, (a) first, to the reduction of the principal balance of Component B, until the principal balance of such Component is reduced to zero, and (b) second, to the reduction of the principal balance of Component C, until the principal balance of such Component is reduced to zero.
Component Sequential Order means (i) with respect to each A Note, (a) first, to the reduction of the principal balance of Note Component A, until the principal balance of such Note Component is reduced to zero; (b) second, to the reduction of the principal balance of Note Component B, until the principal balance of such Note Component is reduced to zero; (c) third, to the reduction of the principal balance of Note Component C-1, until the principal balance of such Note Component is reduced to zero, and (ii) with respect to each B Note, (a) first, to the reduction of the principal balance of Note Component C-2, until the principal balance of such Note Component is reduced to zero; (b) second, to the reduction of the principal balance of Note Component D, until the principal balance of such Note Component is reduced to zero; (c) third, to the reduction of the principal balance of Note Component E, until the principal balance of such Note Component is reduced to zero; and (d) fourth, to the reduction of the principal balance of Note Component HRR, until the principal balance of such Note Component is reduced to zero.
Examples of Component Sequential Order in a sentence
Any realized losses (including reductions by a bankruptcy court) applied to reduce the principal balance of the Mortgage Loan (and correspondingly any Note) shall be reimbursed to the Notes in Sequential Order and to the corresponding Components of such Note in Component Sequential Order after all amounts of interest and principal have otherwise been paid in full on such Note.
All payments of principal in respect of each Note shall be applied to the corresponding Components of such Note in accordance with the terms of the Mortgage Loan Agreement in Component Sequential Order.