Common use of Allocation of Calculated Tranche Write-up Amounts to the Reference Clause in Contracts

Allocation of Calculated Tranche Write-up Amounts to the Reference. (i) On each Payment Date on or prior to the Group 1 Termination Date, after allocation of the Senior Reduction Amount, Subordinate Reduction Amount and Calculated Tranche Write-down Amounts with respect to Loan Group 1, the related Calculated Tranche Write-up Amount, if any, for such Payment Date will be allocated to increase the Class Notional Amount of each Group 1 Reference Tranche in the following order of priority until the cumulative Calculated Tranche Write-up Amounts allocated to each such Group 1 Reference Tranche is equal to the cumulative Calculated Tranche Write-down Amounts previously allocated to such Group 1 Reference Tranche on or prior to such Payment Date: (A) first, to the Class 1A-H Reference Tranche, (B) second, to the Class 1M-1 and Class 1M-1H Reference Tranches, (C) third, to the Class 1M-2 and Class 1M-2H Reference Tranches, pro rata, based on their Class Notional Amounts, and (D) fourth, to the Class 1B-H Reference Tranche. (ii) On each Payment Date on or prior to the Group 2 Termination Date, after allocation of the Senior Reduction Amount, Subordinate Reduction Amount and Calculated Tranche Write-down Amounts with respect to Loan Group 2, the related Calculated Tranche Write-up Amount, if any, for such Payment Date will be allocated to increase the Class Notional Amount of each Group 2 Reference Tranche in the following order of priority until the cumulative Calculated Tranche Write-up Amounts allocated to each such Group 2 Reference Tranche is equal to the cumulative Calculated Tranche Write-down Amounts previously allocated to such Group 2 Reference Tranche on or prior to such Payment Date: (A) first, to the Class 2A-H Reference Tranche, (B) second, to the Class 2M-1 and Class 2M-1H Reference Tranches, (C) third, to the Class 2M-2 and Class 2M-2H Reference Tranches, pro rata, based on their Class Notional Amounts, and (D) fourth, to the Class 2B-H Reference Tranche.

Appears in 6 contracts

Samples: Debt Agreement, Debt Agreement, Debt Agreement

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