Reverse Sequential Order definition
Reverse Sequential Order means (a) first, to the reduction of the Note Principal Balance of each B Note, on a Pro Rata and Pari Passu Basis, until the Note Principal Balance of each such Note is reduced to zero; and (b) second, to the reduction of the Note Principal Balance of each of A Note, on a Pro Rata and Pari Passu Basis, until the Note Principal Balance of each such Note is reduced to zero.
Reverse Sequential Order means sequentially to the Class O, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E, Class D, Class C, Class B and finally to the Class X and Class A Certificates, on a pro rata basis, as described herein.
Reverse Sequential Order. With respect to any distribution or allocation relating to principal in respect of the Principal Balance Certificates (other than the RR Interest):
Examples of Reverse Sequential Order in a sentence
For purposes of determining the Controlling Class and whether a Control Termination Event has occurred and is continuing, Allocated Collateral Deficiency Amounts allocated to an AB Modified Loan will be allocated to each Class of Control Eligible Certificates in Reverse Sequential Order to notionally reduce the related Certificate Balances until the Certificate Balance of each such Class of Control Eligible Certificates is reduced to zero.
Appraisal Reduction Amounts with respect to the Mortgage Loan shall be allocated, first, to the Components (in Reverse Sequential Order) of the B Notes (on a Pro Rata and Pari Passu Basis), and then to the Components (in Reverse Sequential Order) of the A Notes (on a Pro Rata and Pari Passu Basis).
Appraisal Reduction amounts with respect to the Mortgage Loan shall be allocated to the Notes in Reverse Sequential Order.
More Definitions of Reverse Sequential Order
Reverse Sequential Order. With respect to the allocation of applicable Realized Losses to the Classes of Non-Retained Principal Balance Certificates on any Distribution Date, to the Class B and Class A Certificates, in that order, until such Realized Loss is allocated in full.
Reverse Sequential Order means sequentially to the Class P, Class O, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E, Class D, Class C, Class B, Class A-J, Class A-M, and finally to the Class X, Class X-Y, Class A-1, Class A-1A, Class A-2, Class A-3 and Class A-4 Certificates on a pro rata basis, as described herein.
Reverse Sequential Order means, with respect to any reduction of the Note Principal Balance of any Note(s) or with respect to the allocation of any expenses and losses relating to the Mortgage Loan and the Mortgaged Property, including, without limitation, losses of principal or interest, Property Protection Advances (and any Advance Interest thereon), Special Servicing Fees, Liquidation Fees and Workout Fees, and certain other trust expenses, as well as Appraisal Reduction Amounts, (a) first, to the reduction of the Note Principal Balance of each of the Junior Notes, on a Pro Rata and Pari Passu Basis, until the Note Principal Balance of each such Note is reduced to zero; and (b) second, to the reduction of the Note Principal Balance of each of the Senior Notes, on a Pro Rata and Pari Passu Basis, until the Note Principal Balance of each such Note is reduced to zero.
Reverse Sequential Order means: (a) first, to the reduction of the Accrued and Deferred Principal Amounts of the C Notes, on a Pro Rata and Pari Passu Basis based on the respective Accrued and Deferred Principal Amounts of such Notes, until the Accrued and Deferred Principal Amount of each C Note is reduced to zero; (b) second, to the reduction of the Accrued and Deferred Principal Amounts of the Junior B Notes, on a Pro Rata and Pari Passu Basis based on the respective Accrued and Deferred Principal Amounts of such Notes, until the Accrued and Deferred Principal Amount of each Junior B Note is reduced to zero; (c) third, to the reduction of the Accrued and Deferred Principal Amounts of the Senior B Notes, on a Pro Rata and Pari Passu Basis based on the respective Accrued and Deferred Principal Amounts of such Notes, until the Accrued and Deferred Principal Amount of each Senior B Note is reduced to zero; (d) fourth, to the reduction of the Accrued and Deferred Principal Amounts of the A Notes, on a Pro Rata and Pari Passu Basis based on the respective Accrued and Deferred Principal Amounts of such Notes, until the Accrued and Deferred Principal Amount of each A Note is reduced to zero; (e) fifth, to the reduction of the Regular Principal Balances of the C Notes, on a Pro Rata and Pari Passu Basis based on the respective Regular Principal Balances of such Notes, until the Regular Principal Balance of each C Note is reduced to zero; (f) sixth, to the reduction of the Regular Principal Balances of the Junior B Notes, on a Pro Rata and Pari Passu Basis based on the respective Regular Principal Balances of such Notes, until the Regular Principal Balance of each Junior B Note is reduced to zero; (g) seventh, to the reduction of the Regular Principal Balances of the Senior B Notes, on a Pro Rata and Pari Passu Basis based on the respective Regular Principal Balances of such Notes, until the Regular Principal Balance of each Senior B Note is reduced to zero; and (h) eighth, to the reduction of the Regular Principal Balances of the A Notes, on a Pro Rata and Pari Passu Basis based on the respective Regular Principal Balances of such Notes, until the Regular Principal Balance of each A Note is reduced to zero.
Reverse Sequential Order. With respect to any distribution or allocation relating to principal in respect of the Principal Balance Certificates (other than any Exchangeable Certificates) and the Exchangeable Upper-Tier Regular Interests: first, to the Class H-RR Certificates; second, to the Class G-RR Certificates; third, to the Class F-RR Certificates; fourth, to the Class E-RR Certificates; fifth, to the Class D-RR Certificates; sixth, to the Class C Upper-Tier Regular Interest (and, correspondingly, to the Class C, Class C-1 and Class C-2 Certificates, pro rata in proportion to their Class Percentage Interests in the Class C Upper-Tier Regular Interest); seventh, to the Class B Upper-Tier Regular Interest (and, correspondingly, to the Class B, Class B-1 and Class B-2 Certificates, pro rata in proportion to their Class Percentage Interests in the Class B Upper-Tier Regular Interest); eighth, to the Class A-S Upper-Tier Regular Interest (and, correspondingly, to the Class A-S, Class A-S-1 and Class A-S-2 Certificates, pro rata in proportion to their Class Percentage Interests in the Class A-S Upper-Tier Regular Interest); and ninth, pro rata (based on their respective Certificate Balances), to the Class A-1 and Class A-SB Certificates and the Class A-5 Upper-Tier Regular Interests (and, correspondingly, to the Class A-5, Class A-5-1 and Class A-5-2 Certificates, pro rata in proportion to their Class Percentage Interests in the Class A-5 Upper-Tier Regular Interest), in each case until the remaining Certificate Balances of such Classes of Certificates or Exchangeable Upper-Tier Regular Interests have been reduced to zero.
Reverse Sequential Order means (i) with respect to the allocation of losses of principal, (a) first, to the reduction of the Note Principal Balance of each of the B Notes, on a Pro Rata and Pari Passu Basis, until the Note Principal Balance of each such Note is reduced to zero; and (b) second, to the reduction of the Note Principal Balance of each of the A Notes, on a Pro Rata and Pari Passu Basis, until the Note Principal Balance of each such Note is reduced to zero and (ii) with respect to the allocation of any fees, costs, liabilities or expenses incurred in connection with the servicing and administration of the Mortgage Loan, (a) first, to the B Notes, on a Pro Rata and Pari Passu Basis, based on their respective Note Principal Balances (up to the amounts distributable to such B Notes) and (b) second, to the A Notes, on a Pro Rata and Pari Passu Basis, based on their respective Note Principal Balances.
Reverse Sequential Order means (i) with respect to each Lead Securitization Note, (a) first, to the reduction of the principal balance of Component HRR, until the principal balance of such Component is reduced to zero; (b) second, to the reduction of the principal balance of Component A-S, until the principal balance of such Note Component is reduced to zero; and (c) third, to the reduction of the principal balance of Component A, until the principal balance of such Note Component is reduced to zero, and (ii) with respect to each Non-Lead Securitization Note, (a) first, to the reduction of the principal balance of Component C, until the principal balance of such Note Component is reduced to zero; (b) second, to the reduction of the principal balance of Component B, until the principal balance of such Note Component is reduced to zero; and (c) third, to the reduction of the principal balance of Component A, until the principal balance of such Note Component is reduced to zero.