Common use of Allocation of Modification Gain Amount Clause in Contracts

Allocation of Modification Gain Amount. On each Payment Date on or prior to the Termination Date, the Modification Gain Amount, if any, for such Payment Date, will be allocated in the following order of priority: (i) first, to the Class M-1 and Class M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-1 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-1 Notes on all prior Payment Dates; (ii) second, to the Class M-2 and Class M-2H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-2 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-2 Notes on all prior Payment Dates; (iii) third, to the Class M-3 and Class M-3H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-3 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-3 Notes on all prior Payment Dates; (iv) fourth, to the Class B and Class B-H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class B Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class B Notes on all prior Payment Dates; and (v) fifth, to the most subordinate Classes of pro rata Reference Tranches outstanding, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date. Any amounts allocated to the Class X-0, Xxxxx X-0, Class M-3 or Class B Reference Tranches above on any Payment Date will result in a corresponding increase of the Interest Payment Amount of the Class M-1, Class M-2, Class M-3 or Class B Notes, as applicable (in each case without regard to any exchanges of Class M Notes for MAC Notes for such Payment Date). If the Class M-1 Notes have been exchanged for the Class M-1I and Class M-1F Notes, the Class M-2 Notes have been exchanged for the Class M-2I and Class M-2F Notes, or the Class M-3 Notes have been exchanged for the Class M-3I and Class M-3F Notes, any Modification Gain Amount that is allocable to such exchanged Class M Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date, pro rata, based on their Interest Accrual Amounts. If Class M Notes have been exchanged for any other MAC Notes, any Modification Gain Amount that is allocable to such exchanged Class M Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date in accordance with the exchange proportions applicable to the related Combination.

Appears in 16 contracts

Samples: Global Agency Agreement, Stacr Debt Agreement, Stacr Debt Agreement

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Allocation of Modification Gain Amount. On each Payment Date on or prior to the Termination Date, the Modification Gain Amount, if any, for such Payment Date, will be allocated in the following order of priority: (i) first, to the Class M-1 and Class M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-1 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-1 Notes on all prior Payment Dates; (ii) second, to the Class M-2 and Class M-2H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-2 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-2 Notes on all prior Payment Dates; (iii) third, to the Class M-3 M-3A and Class M-3H M-3AH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-3 M-3A Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-3 M-3A Notes on all prior Payment Dates; (iv) fourth, to the Class M-3B and Class M-3BH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-3B Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-3B Notes on all prior Payment Dates; (v) fifth, to the Class B and Class B-H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class B Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class B Notes on all prior Payment Dates; and (vvi) fifthsixth, to the most subordinate Classes of pro rata Reference Tranches outstanding, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date. Any amounts allocated to the Class X-0, Xxxxx X-0, Class M-3 M-3A, Class M-3B or Class B Reference Tranches above on any Payment Date will result in a corresponding increase of the Interest Payment Amount of the Class M-1, Class M-2, Class M-3 M-3A, Class M-3B or Class B Notes, as applicable (in each case without regard to any exchanges of Class M Exchangeable Notes for MAC Notes for such Payment Date). If the Class M-1 Notes have been exchanged for the Class M-1I and Class M-1F Notes, the Class M-2 Notes have been exchanged for the Class M-2I and Class M-2F Notes, or the Class M-3 M-3A Notes and the Class M-3B Notes have been exchanged for the Class M-3I M-3 Notes or the Class M-3A Notes have been exchanged for the Class M-3AI and Class M-3F M-3AF Notes, any Modification Gain Amount that is allocable to such exchanged Class M Exchangeable Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date, pro rata, based on their Interest Accrual Amounts. If Class M Notes have been exchanged for any other MAC Notes, any Modification Gain Amount that is allocable to such exchanged Class M Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date in accordance with the exchange proportions applicable to the related Combination.

Appears in 15 contracts

Samples: Exchange Administration Agreement, Stacr Debt Agreement, Exchange Administration Agreement

Allocation of Modification Gain Amount. On each Payment Date on or prior to the Termination Date, the Modification Gain Amount, if any, for such Payment Date, will be allocated in the following order of priority: (i) first, to the Class M-1 and Class M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-1 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount Amounts allocated to reduce the Interest Payment Amount on the Class M-1 Notes on all prior Payment Dates; (ii) second, to the Class M-2 M-2A and Class M-2H M-2AH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-2 M-2A Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount Amounts allocated to reduce the Interest Payment Amount on the Class M-2 M-2A Notes on all prior Payment Dates; (iii) third, to the Class M-3 M-2B and Class M-3H M-2BH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-3 M-2B Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount Amounts allocated to reduce the Interest Payment Amount on the Class M-3 M-2B Notes on all prior Payment Dates; (iv) fourth, to the Class B B-1 and Class B-H B-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class B B-1 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount Amounts allocated to reduce the Interest Payment Amount on the Class B B-1 Notes on all prior Payment Dates; and (v) fifth, to the most subordinate Classes of pro rata Reference Tranches outstandingoutstanding (except for the Class B-2H Reference Tranche), pro rata, based on their Class Notional Amounts immediately prior to such Payment Date. Any amounts allocated to the Class X-0, Xxxxx X-0, Class M-3 or Class B Reference Tranches above on any Payment Date will result in a corresponding increase of the Interest Payment Amount of the Class M-1, Class M-2, Class M-3 or Class B Notes, as applicable (in each case without regard to any exchanges of Class M Notes for MAC Notes for such Payment Date). If the Class M-1 Notes have been exchanged for the Class M-1I and Class M-1F Notes, the Class M-2 Notes have been exchanged for the Class M-2I and Class M-2F Notes, or the Class M-3 Notes have been exchanged for the Class M-3I and Class M-3F Notes, any Modification Gain Amount that is allocable to such exchanged Class M Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date, pro rata, based on their Interest Accrual Amounts. If Class M Notes have been exchanged for any other MAC Notes, any Modification Gain Amount that is allocable to such exchanged Class M Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date in accordance with the exchange proportions applicable to the related Combination.

Appears in 7 contracts

Samples: Exchange Administration Agreement, Stacr Debt Agreement, Global Agency Agreement

Allocation of Modification Gain Amount. On each Payment Date on or prior to the Termination Date, the Modification Gain Amount, if any, for such Payment Date, will be allocated in the following order of priority: (i) first, to the Class M-1 and Class M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-1 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-1 Notes on all prior Payment Dates; (ii) second, to the Class M-2 and Class M-2H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-2 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-2 Notes on all prior Payment Dates; (iii) third, to the Class M-3 and Class M-3H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-3 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-3 Notes on all prior Payment Dates; (iv) fourth, to the Class B and Class B-H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class B Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class B Notes on all prior Payment Dates; and (v) fifth, to the most subordinate Classes of pro rata Reference Tranches outstanding, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date. Any amounts allocated to the Class X-0M-1, Xxxxx X-0Class M-2, Class M-3 or Class B Reference Tranches above on any Payment Date will result in a corresponding increase of the Interest Payment Amount of the Class M-1, Class M-2, Class M-3 or Class B Notes, as applicable (in each case without regard to any exchanges of Class M Notes for MAC Notes for such Payment Date). If the Class M-1 Notes have been exchanged for the Class M-1I and Class M-1F Notes, the Class M-2 Notes have been exchanged for the Class M-2I and Class M-2F Notes, or the Class M-3 Notes have been exchanged for the Class M-3I and Class M-3F Notes, any Modification Gain Amount that is allocable to such exchanged Class M Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date, pro rata, based on their Interest Accrual Amounts. If Class M Notes have been exchanged for any other MAC Notes, any Modification Gain Amount that is allocable to such exchanged Class M Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date in accordance with the exchange proportions applicable to the related Combination.

Appears in 7 contracts

Samples: Exchange Administration Agreement, Global Agency Agreement, Exchange Administration Agreement

Allocation of Modification Gain Amount. On each Payment Date on or prior to the Termination Date, the Modification Gain Amount, if any, for such Payment Date, will be allocated in the following order of priority: (i) first, to the Class M-1 and Class M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-1 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-1 Notes on all prior Payment Dates; (ii) second, to the Class M-2 M-2A and Class M-2H M-2AH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-2 M-2A Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-2 M-2A Notes on all prior Payment Dates; (iii) third, to the Class M-3 M-2B and Class M-3H M-2BH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-3 M-2B Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-3 M-2B Notes on all prior Payment Dates; (iv) fourth, to the Class B B-1 and Class B-H B-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class B B-1 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class B B-1 Notes on all prior Payment Dates; (v) fifth, to the Class B-2 and Class B-2H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class B-2 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class B-2 Notes on all prior Payment Dates; and (vvi) fifthsixth, to the most subordinate Classes of pro rata Reference Tranches outstanding, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date. Any amounts allocated to the Class X-0, Xxxxx X-0M-1, Class M-3 M-2A, Class M-2B, Class B-1 or Class B B- 2 Reference Tranches above on any Payment Date will result in a corresponding increase of the Interest Payment Amount of the Class M-1, Class M-2M-2A, Class M-3 M-2B, Class B-1 or Class B B-2 Notes, as applicable (in each case without regard to any exchanges of Class M Exchangeable Notes for MAC Notes for such Payment Date). If (A) the Class M-1 M-2A and Class M-2B Notes have been exchanged for the Class M-1I and Class M-1F M-2 Notes, (B) the Class M-2 Notes have been exchanged for any of (i) the Class M-2I and Class M-2F M-2R Notes, (ii) the Class M-2I and Class M-2S Notes, (iii) the Class M-2I and Class M-2T Notes, or (iv) the Class M-3 Notes have been exchanged for M-2I and Class M-2U Notes, respectively, (C) the Class M-3I and Class M-3F Notes, any Modification Gain Amount that is allocable to such exchanged Class M Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date, pro rata, based on their Interest Accrual Amounts. If Class M M-2A Notes have been exchanged for any other MAC of (i) the Class M-2AI and Class M-2AR Notes, any Modification Gain Amount that is allocable to such exchanged Class M Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date in accordance with the exchange proportions applicable to the related Combination.,

Appears in 6 contracts

Samples: Global Agency Agreement, Exchange Administration Agreement, Global Agency Agreement

Allocation of Modification Gain Amount. On each Payment Date on or prior to the Termination Date, the Modification Gain Amount, if any, for such Payment Date, will be allocated in the following order of priority: (i) first, to the Class M-1 and Class M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-1 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount Amounts allocated to reduce the Interest Payment Amount on the Class M-1 Notes on all prior Payment Dates; (ii) second, to the Class M-2 M-2A and Class M-2H M-2AH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-2 M-2A Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount Amounts allocated to reduce the Interest Payment Amount on the Class M-2 M-2A Notes on all prior Payment Dates; (iii) third, to the Class M-3 M-2B and Class M-3H M-2BH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-3 M-2B Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount Amounts allocated to reduce the Interest Payment Amount on the Class M-3 M-2B Notes on all prior Payment Dates; (iv) fourth, to the Class B B-1 and Class B-H B-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class B B-1 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount Amounts allocated to reduce the Interest Payment Amount on the Class B B-1 Notes on all prior Payment Dates; and (v) fifth, to the most subordinate Classes of pro rata Reference Tranches outstandingoutstanding (except for the Class B-2H Reference Tranche), pro rata, based on their Class Notional Amounts immediately prior to such Payment Date. Any amounts allocated to the Class X-0, Xxxxx X-0M-1, Class M-3 M-2A, Class M-2B or Class B B-1 Reference Tranches above on any Payment Date will result in a corresponding increase of the Interest Payment Amount of the Class M-1, Class M-2M-2A, Class M-3 M-2B or Class B B-1 Notes, as applicable (in each case without regard to any exchanges of Class M Exchangeable Notes for MAC Notes Notes) for such Payment Date). If (A) the Class M-1 M-2A and Class M-2B Notes have been exchanged for the Class M-1I and Class M-1F M-2 Notes, (B) the Class M-2 Notes have been exchanged for any of (i) the Class M-2I and Class M-2F M-2R Notes, (ii) the Class M-2I and Class M-2S Notes, (iii) the Class M-2I and Class M-2T Notes, or (iv) the Class M-3 Notes have been exchanged for M-2I and Class M-2U Notes, respectively, (C) the Class M-3I and Class M-3F Notes, any Modification Gain Amount that is allocable to such exchanged Class M Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date, pro rata, based on their Interest Accrual Amounts. If Class M M-2A Notes have been exchanged for any other MAC of (i) the Class M-2AI and Class M-2AR Notes, any Modification Gain Amount that is allocable to such exchanged Class M Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date in accordance with the exchange proportions applicable to the related Combination.,

Appears in 6 contracts

Samples: Global Agency Agreement, Stacr Debt Agreement, Global Agency Agreement

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Allocation of Modification Gain Amount. On each Payment Date on or prior to the Termination Date, the Modification Gain Amount, if any, for such Payment Date, will be allocated in the following order of priority: (i) first, to the Class M-1 and Class M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-1 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-1 Notes on all prior Payment Dates; (ii) second, to the Class M-2 and Class M-2H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-2 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-2 Notes on all prior Payment Dates; (iii) third, to the Class M-3 M-3A and Class M-3H M-3AH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-3 M-3A Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-3 M-3A Notes on all prior Payment Dates; (iv) fourth, to the Class M-3B and Class M-3BH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-3B Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class M-3B Notes on all prior Payment Dates; (v) fifth, to the Class B and Class B-H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class B Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount allocated to reduce the Interest Payment Amount on the Class B Notes on all prior Payment Dates; and (vvi) fifthsixth, to the most subordinate Classes of pro rata Reference Tranches outstanding, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date. Any amounts allocated to the Class X-0, Xxxxx X-0M-1, Class M-3 M-2, Class M-3A, Class M-3B or Class B Reference Tranches above on any Payment Date will result in a corresponding increase of the Interest Payment Amount of the Class M-1, Class M-2, Class M-3 M-3A, Class M-3B or Class B Notes, as applicable (in each case without regard to any exchanges of Class M Exchangeable Notes for MAC Notes for such Payment Date). If the Class M-1 Notes have been exchanged for the Class M-1I and Class M-1F Notes, the Class M-2 Notes have been exchanged for the Class M-2I and Class M-2F Notes, or the Class M-3 M-3A Notes and the Class M-3B Notes have been exchanged for the Class M-3I M-3 Notes or the Class M-3A Notes have been exchanged for the Class M-3AI and Class M-3F M-3AF Notes, any Modification Gain Amount that is allocable to such exchanged Class M Exchangeable Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date, pro rata, based on their Interest Accrual Amounts. If Class M Notes have been exchanged for any other MAC Notes, any Modification Gain Amount that is allocable to such exchanged Class M Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date in accordance with the exchange proportions applicable to the related Combination.

Appears in 3 contracts

Samples: Global Agency Agreement, Exchange Administration Agreement, Global Agency Agreement

Allocation of Modification Gain Amount. On each Payment Date on or prior to the Termination Date, the Modification Gain Amount, if any, for such Payment Date, will be allocated in the following order of priority: (i) first, to the Class M-1 and Class M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment DateTranche, until the amount allocated to the Class M-1 M-1H Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount Amounts allocated to reduce the Interest Payment Accrual Amount on the Class M-1 Notes M-1H Reference Tranche on all prior Payment Dates; (ii) second, to the Class M-2 M-2A, Class M-2AD and Class M-2H M-2AH Reference Tranches, pro rata, based on their the Interest Accrual Amounts of the Class Notional Amounts immediately prior to M-2A and Class M-2AD Notes and the Class M-2AH Reference Tranche for such Payment Date, until the aggregate amount allocated to the Class M-2 M-2A and Class M-2AD Reference Tranche Tranches is equal to the cumulative amount of unreimbursed Modification Loss Amount Amounts allocated to reduce the Interest Payment Amount on the Class M-2 M-2A and Class M-2AD Notes on all prior Payment Dates; (iii) third, to the Class M-3 M-2B, Class M-2BD and Class M-3H M-2BH Reference Tranches, pro rata, based on their the Interest Accrual Amounts of the Class Notional Amounts immediately prior to M-2B and Class M-2BD Notes and the Class M-2BH Reference Tranche for such Payment Date, until the amount allocated to the Class M-3 M-2B and Class M-2BD Reference Tranche Tranches is equal to the cumulative amount of unreimbursed Modification Loss Amount Amounts allocated to reduce the Interest Payment Amount on the Class M-3 M-2B and Class M-2BD Notes on all prior Payment Dates; (iv) fourth, to the Class B B-1D and Class B-H B-1H Reference TranchesTranches and the Class B-1I Notes, pro rata, based on their the Interest Accrual Amounts of the Class Notional Amounts immediately prior to B-1D and Class B-1I Notes and the Class B-1H Reference Tranche for such Payment Date, until the amount allocated to the Class B B-1D Reference Tranche and the Class B-1I Notes is equal to the cumulative amount of unreimbursed Modification Loss Amounts allocated to reduce the Interest Payment Amount on the Class B-1D and B-1I Notes on all prior Payment Dates; (v) fifth, to the Class B-2D and Class B-2H Reference Tranches, pro rata, based on the Interest Accrual Amounts for the Class B-2D Notes and the Class B-2H Reference Tranche for such Payment Date, until the amount allocated to the Class B-2D Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount Amounts allocated to reduce the Interest Payment Amount on the Class B B-2D Notes on all prior Payment Dates; and (vvi) fifthsixth, to the most subordinate Classes of pro rata Reference Tranches outstanding, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date. Any amounts allocated to the Class X-0, Xxxxx X-0M-2A, Class M-3 M-2AD, Class M-2B, Class M-2BD, Class B-1D or Class B B-2D Reference Tranches above on any Payment Date will result in a corresponding increase of the Interest Payment Amount of the Class M-1M-2A, Class M-2M-2AD, Class M-3 M-2B, Class M-2BD, Class B-1D, Class B-1I or Class B B-2D Notes, as applicable (in each case without regard to any exchanges of Class M Exchangeable Notes for MAC Notes Notes) for such Payment Date). If (A) the Class M-1 M-2A and Class M-2B Notes have been exchanged for the Class M-1I and Class M-1F M-2 Notes, (B) the Class M-2 Notes have been exchanged for any of (i) the Class M-2I and Class M-2F M-2R Notes, or the Class M-3 Notes have been exchanged for the Class M-3I and Class M-3F Notes, any Modification Gain Amount that is allocable to such exchanged Class M Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date, pro rata, based on their Interest Accrual Amounts. If Class M Notes have been exchanged for any other MAC Notes, any Modification Gain Amount that is allocable to such exchanged Class M Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date in accordance with the exchange proportions applicable to the related Combination.,

Appears in 3 contracts

Samples: Global Agency Agreement, Stacr Debt Agreement, Exchange Administration Agreement

Allocation of Modification Gain Amount. On each Payment Date on or prior to the Termination Date, the Modification Gain Amount, if any, for such Payment Date, will be allocated in the following order of priority: (i) first, to the Class M-1 and Class M-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-1 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount Amounts allocated to reduce the Interest Payment Amount on the Class M-1 Notes on all prior Payment Dates; (ii) second, to the Class M-2 M-2A and Class M-2H M-2AH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-2 M-2A Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount Amounts allocated to reduce the Interest Payment Amount on the Class M-2 M-2A Notes on all prior Payment Dates; (iii) third, to the Class M-3 M-2B and Class M-3H M-2BH Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class M-3 M-2B Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount Amounts allocated to reduce the Interest Payment Amount on the Class M-3 M-2B Notes on all prior Payment Dates; (iv) fourth, to the Class B B-1 and Class B-H B-1H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class B B-1 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amount Amounts allocated to reduce the Interest Payment Amount on the Class B B-1 Notes on all prior Payment Dates; (v) fifth, to the Class B-2 and Class B-2H Reference Tranches, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date, until the amount allocated to the Class B-2 Reference Tranche is equal to the cumulative amount of unreimbursed Modification Loss Amounts allocated to reduce the Interest Payment Amount on the Class B-2 Notes on all prior Payment Dates; and (vvi) fifthsixth, to the most subordinate Classes of pro rata Reference Tranches outstanding, pro rata, based on their Class Notional Amounts immediately prior to such Payment Date. Any amounts allocated to the Class X-0, Xxxxx X-0M-1, Class M-3 M-2A, Class M-2B, Class B-1 or Class B B- 2 Reference Tranches above on any Payment Date will result in a corresponding increase of the Interest Payment Amount of the Class M-1, Class M-2M-2A, Class M-3 M-2B, Class B-1 or Class B B-2 Notes, as applicable (in each case without regard to any exchanges of Class M Exchangeable Notes for MAC Notes for such Payment Date). If (A) the Class M-1 M-2A and Class M-2B Notes have been exchanged for the Class M-1I and Class M-1F M-2 Notes, (B) the Class M-2 Notes have been exchanged for any of (i) the Class M-2I and Class M-2F M-2R Notes, (ii) the Class M-2I and Class M-2S Notes, (iii) the Class M-2I and Class M-2T Notes, or (iv) the Class M-3 Notes have been exchanged for M-2I and Class M-2U Notes, respectively, (C) the Class M-3I and Class M-3F Notes, any Modification Gain Amount that is allocable to such exchanged Class M Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date, pro rata, based on their Interest Accrual Amounts. If Class M M-2A Notes have been exchanged for any other MAC of (i) the Class M-2AI and Class M-2AR Notes, any Modification Gain Amount that is allocable to such exchanged Class M Notes on any Payment Date will be allocated to increase the Interest Payment Amounts, as applicable, of such MAC Notes for such Payment Date in accordance with the exchange proportions applicable to the related Combination.,

Appears in 3 contracts

Samples: Global Agency Agreement, Stacr Debt Agreement, Exchange Administration Agreement

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