Examples of Loan Group 1 in a sentence
The "Group 1 Applicable Severity" with respect to any Payment Date and Loan Group 1, is a percentage equalCumulative Net Credit Event Percentageto: to: (a) the sum of (i) the product of 10% and the 10% Severity Tier Percentage, (ii) the product of 20% and the 20% Severity Tier Percentage, and (iii) the product of 40% and the 40% Severity Tier Percentage; divided by (b) the sum of the 10% Severity Tier Percentage, the 20% Severity Tier Percentage, and the 40% Severity Tier Percentage.
For the avoidance of doubt, through the Maturity Date, a Calculated Tranche Write-up Amount for Loan Group 1 may be applied to any Group 1 Reference Tranche whose Class Notional Amount has previously been reduced to zero (until the cumulative Calculated Tranche Write-up Amount allocated to such Class is equal to the cumulative Calculated Tranche Write-down Amount previously allocated to such Class).
Represents the initial subordination and initial credit enhancement of such Group 1 Reference Tranches, which is equal to the percentage of the Loan Group 1 Cut-off Date Balance represented by the aggregate initial Class Notional Amount of the Group 1 Reference Tranches subordinate to the subject Group 1 Reference Tranches.
With respect to any Payment Date, any reductions in the Class Notional Amount of the Class 1M-1 or Class 1M-2 Reference Tranche, allocated pursuant to the hypothetical structure as described in this Prospectus as a result of the occurrence of Credit Events on the Reference Obligations in Loan Group 1, will result in a corresponding reduction in the Class Principal Balance of the Class 1M-1 or Class 1M-2 Notes, as applicable.
The calculations with respect to the Group 1 Reference Tranches will be based on the Credit Event and principal payment experience of the Reference Obligations in Loan Group 1 and the hypothetical structure as described in this Prospectus.Similarly, the calculations with respect to the Group 2 Reference Tranches will be based on the Credit Event and principal payment experience of the Reference Obligations in Loan Group 2 and the hypothetical structure as described in this Prospectus.