Examples of Group I Certificate Principal Balance in a sentence
All reductions in the Group I Certificate Principal Balance of a Certificate effected by distributions of principal or allocations of Realized Losses with respect to Group I Loans made on any Distribution Date shall be binding upon all Holders of such Certificate and of any Certificate issued upon the registration of transfer or exchange therefor or in lieu thereof, whether or not such distribution is noted on such Certificate.
All reductions in the Group I Certificate Principal Balance of a Certificate effected by distributions of principal or allocations of related Realized Losses with respect to Group I Loans made on any Distribution Date shall be binding upon all Holders of such Certificate and of any Certificate issued upon the registration of transfer or exchange therefor or in lieu thereof, whether or not such distribution is noted on such Certificate.
Realized Losses on the Group I Loans for any Distribution Date will first, cause a reduction in Net Monthly Excess Cash Flow for that Distribution Date, second, reduce the available Net Swap Payments from the Swap Providers, if any, for that Distribution Date, and third cause a reduction in the Group I Certificate Principal Balance of the Class I-CE Certificates for that Distribution Date, until the Group I Certificate Principal Balance thereof has been reduced to zero.
In addition, to the extent the related Servicer receives Subsequent Recoveries with respect to any defaulted Group I Loan, the amount of the Realized Loss with respect to that defaulted Group I Loan will be reduced to the extent such Subsequent Recoveries are applied to reduce the Group I Certificate Principal Balance of any Class of Adjustable Rate Certificates on any Distribution Date.
Notwithstanding anything to the contrary in this Agreement, in no event will the Group I Certificate Principal Balance of any Class I-A-3 Certificate, Class I-A-4 Certificate or Group I Mezzanine Certificate be reduced more than once in respect of any particular amount both (i) allocable to the Class I-A-3 Certificate, Class A-I-4 Certificate or Group I Mezzanine Certificate in respect of Realized Losses and (ii) payable as principal to the Holder of the such Certificate from Net Monthly Excess Cashflow.