Examples of Senior Reduction Amount in a sentence
See "Description of the Notes — Hypothetical Structure and Calculations with Respect to the Reference Tranches — Allocation of Senior Reduction Amount and Subordinate Reduction Amount".
For the definition of Senior Reduction Amount, see "Description of the Notes — Hypothetical Structure and Calculations with Respect to the Reference Tranches — Allocation of Senior Reduction Amount and Subordinate Reduction Amount".
For the definition of Subordinate Reduction Amount, see "Description of the Notes — Hypothetical Structure and Calculations with Respect to the Reference Tranches — Allocation of Senior Reduction Amount and Subordinate Reduction Amount".
In the event that the Class Notional Amount for the Class 1A-H Reference Tranche is so increased as described in the prior sentence, this would have the effect of increasing the Senior Percentage correspondingly reducing the Subordinate Percentage, which would have a negative impact on the Notes in respect of the calculations of the Senior Reduction Amount and the Subordinate Reduction Amount, as described above.
In the event that the Class Notional Amount for the Class A-H Reference Tranche is so increased as described in the prior sentence, this would have the effect of increasing the Senior Percentage and correspondingly reducing the Subordinate Percentage, which would have a negative impact on the Notes in respect of the calculations of the Senior Reduction Amount and the Subordinate Reduction Amount, as described above.
Because the Class 2M-1 and Class 2M-2 Notes correspond to the Class 2M-1 and Class 2M-2 Reference Tranches, respectively, any Senior Reduction Amount or Subordinate Reduction Amount, as applicable, allocated to the Class 2M-1 or Class 2M-2 Reference Tranches pursuant to the hypothetical structure will result in a requirement of Fannie Mae to make a corresponding payment of principal to the Class 2M-1 or Class 2M-2 Notes, as applicable.
Because the Class 1M-1 and Class 1M-2 Notes correspond to the Class 1M-1 and Class 1M-2 Reference Tranches, respectively, any Senior Reduction Amount or Subordinate Reduction Amount, as applicable, allocated to the Class 1M-1 or Class 1M-2 Reference Tranches pursuant to the hypothetical structure will result in a requirement of Fannie Mae to make a corresponding payment of principal to the Class 1M-1 or Class 1M-2 Notes, as applicable.
Simultaneously, on each Premium Payment Date on or prior to the Termination Date, after allocation of the Senior Reduction Amount, the Subordinate Reduction Amount, any Tranche Write-down Amounts and any Tranche Write-up Amounts, the Supplemental Senior Increase Amount, if any, for such Premium Payment Date will be allocated to increase the Class Notional Amount of the Class A-H Reference Tranche.
Because the Class 2M-1 and Class 2M-2 Notes correspond to the Class 2M-1 and Class 2M-2 Reference Tranches, respectively, any Senior Reduction Amount and/or Subordinate Reduction Amount, as applicable, allocated to the Class 2M-1 or Class 2M-2 Reference Tranches pursuant to the hypothetical structure will result in a requirement of Fannie Mae to make a corresponding payment of principal to the Class 2M-1 or Class 2M-2 Notes, as applicable.
With respect to each Payment Date, the sum of the Scheduled Principal, Unscheduled Principal and Excess Credit Event Amount for such Payment Date, less the Senior Reduction Amount.