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 shall have the meaning set forth in Section 2.6(b)(i)(A).
Pro Rata Allocation. With respect to losses on Group I Loans, the allocation of the principal portion of Realized Losses to the outstanding Classes of Group I-L Regular Interests (other than the Class I-P-L and Class I-A-6-L Regular Interests), pro rata according to their respective Class Principal Balances, in reduction of their respective Class Principal Balances (except if the loss is recognized with respect to a Class I-P Mortgage Loan, in which case the applicable Class I-P Fraction of such loss will first be allocated to the Class I-P-L Regular Interests), and the allocation of the interest portion of Realized Losses to the outstanding Group I-L Regular Interests (other than the Class I-P-L Regular Interests), pro rata according to the amount of interest accrued but unpaid on each such Class in reduction thereof, and then in reduction of their respective Class Principal Balances and (ii) with respect to losses on Group IV Loans, the allocation of the principal portion of Realized Losses to the outstanding Classes of Group IV-L Regular Interests (other than the Class IV-P-L Regular Interests), pro rata according to their respective Class Principal Balances, in reduction of their respective Class Principal Balances (except if the loss is recognized with respect to a Class IV-P Mortgage Loan, in which case the applicable Class IV-P Fraction of such loss will first be allocated to the Class IV-P-L Regular Interests), and the allocation of the interest portion of Realized Losses to the outstanding Group IV-L Regular Interests (other than the Class IV-P-L Regular Interests), pro rata according to the amount of interest accrued but unpaid on each such Class in reduction thereof, and then in reduction of their respective Class Principal Balances. Any losses allocated among the outstanding Classes of REMIC I Regular Interests pursuant to this definition of "Pro Rata Allocation" shall also be allocated to the Corresponding Classes of Certificates in the same manner and amounts as they reduce such attributes of such Classes of REMIC I Regular Interests; provided, however, that the interest portion of such losses allocated to the Class I-A-7-L Regular Interests and applied to reduce the Interest Distribution Amount thereof shall be allocated to the Class I-A-6 and Class I-A-7 Certificates in reduction of the distribution of interest to such Certificates pursuant to the distributions set forth in clause (a)(ii) of the definition of "REMIC II Distribution Amount", pro rata according t...
Examples of Pro Rata Allocation in a sentence
Notwithstanding the foregoing, any Liquidation Obligations in excess of Investor’s Pro Rata Allocation of $7.5 million not satisfied after Liquidation Netting shall be deemed to be paid in full and shall be null and void as of the time of the Company’s due issuance and delivery of the Remainder Note to the Investor.
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. 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. Prospectus: The Prospectus, dated May 20, 2003, and the Prospectus Supplement, dated June 20, 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 Loan to the related Senior Certificates (other than the Class [__], Class [__], Class [__], Class [__] and Class [__] Certificates) and/or to the 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 Group I Discount Loan, the Group I Discount Fraction of such loss will be allocated to the Class [__] Certificates, and the remainder of such loss will be allocated as described above in this definition without regard to this parenthetical and if the loss is incurred with respect to a Group II Discount Loan, the Group II Discount Fraction of such loss will be allocated to the Class [__] Certificates, and the remainder of such loss will be allocated as described above in this definition without regard to this parenthetical); provided that (i) the Pro Rata Allocation of any such loss allocable to the Class [__] Certificates and Class [__] Certificates will be allocated first to the Class [__] Certificates, up to a maximum amount of $[__] with respect to the Class [__] Certificates, and up to a maximum amount of $[__] with respect to the Class [__] Certificates, until the Certificate Principal Balance of the Class [__] Certificates has been reduced to zero, and then to the Class [__] Certificates and Class [__] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero, and (ii) the Pro Rata Allocation of any such loss allocable to the Class [__] Certificates will be allocated first to the Class [__] Certificates until the Certificate Principal Balance of the Class [__] Certificates has been reduced to zero, and then to the Class [__] Certificates until the Certificate Principal Balance of the Class [__] Certificates has been reduced to zero, and (b) the allocation of interest portion of certain losses relating to a Loan to the related Senior Certificates (other than the Class [__] Certificates and Class [__] Certificates) and/or to the Subordinate Certificates, as applicable, pro rata, first according to the 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 outstandi...
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. 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 Mortgage Loans, the allocation of the principal portion of such losses to all Classes of Certificates (other than the Class P Certificates) pro rata according to their respective Class Principal Balances in reduction thereof (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 will first be allocated to the Class P Certificates, 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 Certificates (other than the Class P 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 P and Class X Certificates) pro rata according to their respective Class Principal Balances in reduction thereof. Prospectus: The Prospectus, dated July 26, 2000, and the Prospectus Supplement, dated July 26, 2000, of the Company.