Pro Rata Allocation definition
Pro Rata Allocation. The allocation of the principal portion of Realized Losses to the Senior Certificates (other than the Class R and Class P Certificates), on the one hand, and the Class B Certificates, on the other hand, pro rata according to their respective aggregate Class Principal Balances, in reduction thereof in the manner provided in the succeeding paragraphs of this definition (except if the loss is recognized with respect to a Class P Mortgage Loan, in which case the applicable Class P Fraction of such loss shall first be allocated to the Class P Certificates, and the remainder of such loss shall be allocated as set forth above), and the allocation of the interest portion of Realized Losses to all Classes of Certificates (other than the Class R and Class P Certificates) pro rata according to the amount of interest accrued but unpaid on each such Class, in reduction thereof, and then to the Senior Certificates (other than the Class R, Class P and Class X Certificates), on the one hand, and the Class B Certificates, on the other hand, pro rata according to their respective aggregate Class Principal Balances, in reduction thereof in the manner provided in the succeeding paragraphs of this definition. The principal portion of a Realized Loss on any Mortgage Loan allocated to the Class A Certificates pursuant to this definition of "Pro Rata Allocation" shall be allocated in reduction of the respective Class Principal Balances of the Subgroup 1, Subgroup 2 and Subgroup 3 Certificates as follows:
Pro Rata Allocation. The allocation of the principal portion of losses relating to a Mortgage Loan in a given Loan Group to all Classes of Certificates in the related Certificate Group (other than Component IA 1-4 of the Class IA-1 Certificates and the Class IA-X and the Class IIA-X Certificates) and to the Subordinate Certificates (in the limited circumstances described below) pro rata according to their respective Certificate or Component Principal Balances (except if the loss is recognized with respect to a Group I Discount Mortgage Loan, in which event the applicable Component IA-1-4 Fraction of such loss will first be allocated to Component IA-1-4 of the Class IA-1 Certificates, and the remainder of such loss will be allocated as described above or if the loss is recognized with respect to a Group II Discount Mortgage Loan, in which event the Class IIA-P Fraction of such loss will first be allocated to the Class IIA-P Certificates and the remainder of such loss will be allocated as described above), and the allocation of the interest portion of such losses to the Certificates related to such Mortgage Loan pro rata according to the amount of interest accrued but unpaid on each such Class or Component (other than Component IA-1-4 of the Class IA-1 Certificates) in reduction thereof and then in reduction of their related Class or Component Principal Balances, is hereinafter referred to as "Pro Rata Allocation". For purposes of any Pro Rata Allocation in part to the Subordinate Certificates, each Class of Subordinate Certificates will be deemed to have a Class Principal Balance (and to accrue interest thereon) equal to the actual Class Principal Balance thereof times a fraction, the numerator or which is the Group I Subordinate Amount (for a loss on a Group I Mortgage Loan) or the Group II Subordinate Amount (for a loss on a Group II Mortgage Loan), and the denominator of which is the aggregate of the Group I Subordinate Amount and the Group II Subordinate Amount.
Pro Rata Allocation shall have the meaning set forth in Section 2.6(b)(i)(A).
Examples of Pro Rata Allocation in a sentence
Excess Losses shall be allocated among the Senior Certificates and the Subordinate Certificates by Pro Rata Allocation.
Each Eligible Holder shall receive Subscription Rights entitling such holder to purchase up to its Pro Rata Allocation of the Rights Offering Shares.
Prior to such termination, Columbia Management shall notify the Administrative Agent in writing as to the Pro Rata Allocations of the remaining Borrowers, effective as of the termination, which notice shall constitute a representation and warranty by each of the remaining Borrowers that no Event of Default has occurred and is continuing with respect to each Borrower whose Pro Rata Allocation has been increased.
The ARCO/Equistar Settlement Pro Rata Allocation shall be used to determine the aggregate distributions allocable to each of the four following subcategories of Senior Secured Claims: (i) claims arising under the Senior Secured Credit Agreement, (ii) claims arising under the Secured Hedge Agreements, (iii) the Arco Notes Claims and (iv) the Equistar Notes Claims.
Notwithstanding any other provision in this Agreement to the contrary, to the extent any obligation to reimburse or indemnify any Indemnitee that arises pursuant to Section 9.5(b) is not attributable to any particular Borrower or Borrowers, then such reimbursement or indemnification shall be made by each Borrower (ratably, in accordance with its respective Pro Rata Allocation).
More Definitions of Pro Rata Allocation
Pro Rata Allocation as to each Borrower, the percentage amount stated in Schedule Ia; provided that, if no Event of Default shall have occurred and be continuing, Columbia Management, on behalf of the Borrowers and without the consent of the Lenders, by written notice to the Administrative Agent, may change the Pro Rata Allocations from time to time in Columbia Management’ sole discretion; provided further, that while an Event of Default has occurred and is continuing with respect to a Borrower, the Pro Rata Allocations may be changed in such manner as long as the Pro Rata Allocation of any such defaulting Borrower is not increased; and provided further, that, after any change in Pro Rata Allocations, the aggregate amount of all Pro Rata Allocations shall equal 100%. The delivery of such written notice shall constitute a representation and warranty by the Borrowers as of the date thereof that no Event of Default has occurred and is continuing with respect to each Borrower whose Pro Rata Allocation has been increased.
Pro Rata Allocation. The allocation of the principal portion of Realized Losses to all Classes of Certificates pro rata according to their respective Class Principal Balances in reduction thereof, and the allocation of the interest portion of Realized Losses to all Classes of Certificates pro rata according to the amount of interest accrued but unpaid on each such Class, in reduction thereof, and then to such Classes pro rata according to their respective Class Principal Balances in reduction thereof.
Pro Rata Allocation shall have the meaning set forth in Section 2.5(b)(i)(A).
Pro Rata Allocation. The allocation of the principal portion of Realized Losses to all Classes of REMIC I Regular Interests pro rata according to their respective Class Principal Balances in reduction thereof, and the allocation of the interest portion of Realized Losses to all Classes of REMIC I Regular Interests pro rata according to the amount of interest accrued but unpaid on each such Class, in reduction thereof, and then to such Classes pro rata according to their respective Class Principal Balances in reduction thereof. Any losses allocated to an outstanding Class of REMIC I Regular Interests pursuant to this definition of "Pro Rata Allocation" in reduction of the Class Principal Balance thereof shall also be allocated to the Corresponding Class of Certificates in reduction of the Class Principal Balance thereof by the same amount.
Pro Rata Allocation. The allocation of the principal portion of Realized Losses to all Classes of REMIC II Regular Interests pro rata according to their respective Class Principal Balances in reduction thereof, and the allocation of the interest portion of Realized Losses to all Classes of the REMIC II Regular Interests pro rata according to the amount of interest accrued but unpaid on each such Class, in reduction thereof, and then to such Classes pro rata according to their respective Class Principal Balances in reduction thereof. Any losses allocated to an outstanding Class of REMIC II Regular Interests pursuant to this definition of “Pro Rata Allocation” in reduction of the Class Principal Balance thereof shall also be allocated to the Corresponding Class of Certificates in reduction of the Class Principal Balance thereof by the same amount. Prospectus: The Prospectus, dated March 19, 2003, and the Prospectus Supplement, dated April 25, 2003, of the Company.
Pro Rata Allocation. On any Distribution Date with respect to (a) the allocation of the principal portion of certain losses relating to a Group II Loan to the related Group II Senior Certificates (other than the Interest Only Certificates and Class II-PO Certificates) and/or to the Group II Subordinate Certificates, as applicable, pro rata according to their respective aggregate Certificate Principal Balances on such date of allocation (except that if the loss is incurred with respect to a Discount Loan, the related Discount Fraction of such loss will be allocated to the Class II-PO Certificates, and the remainder of such loss will be allocated as described above in this definition without regard to this parenthetical), and (b) the allocation of interest portion of certain losses relating to a Group II Loan to the related Group II Senior Certificates (other than the Class II-PO Certificates) and/or to the Group II Subordinate Certificates, as applicable, pro rata, first according to the Group II Interest Distribution Amounts due to such Classes on such date of allocation, in reduction thereof until the amount of interest accrued but unpaid on such Distribution Date has been reduced to zero and then pro rata, according to their outstanding Certificate Principal Balances in reduction thereof until the Certificate Principal Balances thereof have been reduced to zero.
Pro Rata Allocation. With respect to Realized Losses on Group I and Group II Loans, the allocation of the principal portion of such losses to all Classes of the Group I-L, Group II-L and Group D-B-L Regular Interests (other than the Class II-P-L Regular Interest) and the Class R-1 and Class R-2 Certificates pro rata according to their respective Class Principal Balances in reduction thereof (except if the loss is recognized with respect to a Class II-P Mortgage Loan, in which case the applicable Class II-P Fraction of such loss will first be allocated to the Class II-P-L Regular Interest, and the remainder of such loss will be allocated as set forth above), and the allocation of the interest portion of such losses to all Classes of the Group I-L, Group II-L and Group D-B-L Regular Interests (other than the Class II-A- 5-L and Class II-P-L Regular Interests) and the Class R-1 and Class R-2 Certificates pro rata according to the amount of interest accrued but unpaid on each such Class, in reduction thereof, and then to such Classes (other than the Class II-A-5-L and Class II-P-L Regular Interests and the related Class X-L Regular Interests) pro rata according to their respective Class Principal Balances in reduction thereof and (ii) with respect to Realized Losses on Group III and Group IV Loans, the allocation of the principal portion of such losses to all Classes of the Group III-L, Group IV-L and Group C-B-L Regular Interests (other than the related Class P-L Regular Interests) pro rata according to their respective Class Principal Balances in reduction thereof (except if the loss is recognized with respect to a Class III-P or Class IV-P Mortgage Loan, in which case the applicable Class P Fraction of such loss will first be allocated to the related Class P-L Regular Interest, and the remainder of such loss will be allocated as set forth above), and the allocation of the interest portion of such losses to all Classes of the Group III-L, Group IV-L and Group C-B-L Regular Interests (other than the related Class P-L Regular Interests) pro rata according to the amount of interest accrued but unpaid on each such Class, in reduction thereof, and then to such Classes (other than the related Class P-L and Class X-L Regular Interests) pro rata according to their respective Class Principal Balances in reduction thereof; provided, however, that until the Class III-A-6-L Principal Balance has been reduced to zero, the principal portion of Realized Losses that would otherwise be allocated...