Senior Tranche definition

Senior Tranche means the tranche within an SBBSs issue that bears losses after all the subordinated tranches of that SBBS issue have done so;
Senior Tranche. (i) With respect to a Participation or B Note, any senior interest in the same Underlying Term Loan as a Participation or any senior debt secured by the same Underlying Mortgage Property as a B Note or Participation and (ii) with respect to a Mezzanine Loan, any commercial mortgage loan related to the same Underlying Mortgage Property or Properties as the Mezzanine Loan.
Senior Tranche means a tranche which is effectively backed or secured by a first claim on the entire amount of the assets in the underlying securitised pool;

Examples of Senior Tranche in a sentence

  • On each Fixed Rate Payer Period End Date the aggregate of all Recovery Balances and Relevant Amortisation Amounts effective on or after the later of the Effective Date and the immediately preceding Fixed Rate Payer Period End Date (the “Aggregate Recovery Balance”) shall be allocated by way of subtraction from the Senior Tranche Amount.

  • Where the Aggregate Recovery Balance exceeds the Senior Tranche Amount the excess of the Aggregate Recovery Balance not so allocated shall be allocated by way of subtraction to the Class B Tranche Amount.

  • Any reductions in the Portfolio Notional Amount on or after the Effective Date as a result of any Relevant Amortisation of any Reference Obligation shall be applied so as to reduce the Senior Tranche Amount, and following reduction of the Senior Tranche Amount to zero, to reduce the Class B Tranche Amount and following reduction of the Class B Tranche Amount to zero, to reduce the Junior Tranche Amount.

  • Where the Aggregate Loss Balance exceeds the sum of the Class B Tranche Amount and the Junior Tranche Amount the excess of the Aggregate Loss Balance not so allocated shall be allocated by way of subtraction from the Senior Tranche Amount.

  • Where the Aggregate Recovery Balance exceeds the sum of the Class B Tranche Amount and the Senior Tranche Amount, the excess of the Aggregate Recovery Balance not so allocated shall be allocated by way of subtraction to the Junior Tranche Amount.


More Definitions of Senior Tranche

Senior Tranche shall have the meaning set forth in Section 28(a).
Senior Tranche means the portion of the Policy initially insuring $129,684,000 of principal and interest in respect of the Series A Bonds representing the third loss layer of the Policy to be drawn in the event of a Policy Payment.
Senior Tranche. A portion of the Loan Amount equal to Nine Million Seven Hundred Ninety Thousand and No/100 Dollars ($9,790,000.00), bearing interest as set forth in the Note. Subordinate Mortgage: Any mortgage, lien instrument, pledge, lien (statutory, constitutional or contractual), security interest, encumbrance or charge, conditional sale or other title retention agreement, covering all or any part of the Mortgaged Property executed and delivered by Borrower, the lien of which is subordinate and inferior to the lien of the Mortgage.
Senior Tranche has the meaning assigned to it in Section 3.01(a)(i) or, where the context so requires, the amount of the facility disbursed thereon to the extent not cancelled or reduced pursuant to this Agreement;  "Senior Tranche Commitment"at any time during a Specified Period, the amount (in Dollars) set opposite that Specified Period in the table in Part I of Schedule 9 to the extent not cancelled or reduced by IFC under this Agreement;  "Shell Bank" a bank that is incorporated in a jurisdiction in which it has no physical presence and that is not an Affiliate of a regulated bank or a regulated financial group; 
Senior Tranche has the meaning given to the term “Tranche” in the Senior Loan Agreement;
Senior Tranche means an amount equal to not less than -------------- $110,000,000 or more than $160,000,000 which shall be used to fund all Loans other than those made pursuant to the Junior Tranche.
Senior Tranche means the tranche senior to the Protected Tranche in an initial amount equal to the Initial Senior Tranche Notional Amount, as may be adjusted from time to time in accordance with this Deed;