Common use of Certain Constructions Clause in Contracts

Certain Constructions. For purposes of this Agreement, references to the most or next most subordinate Class of Certificates [or Class PEZ Regular Interests] outstanding at any time shall mean the most or next most subordinate Class of Certificates [or Class PEZ Regular Interests] then outstanding as among the Class [A], Class [X-A], Class [X-B], Class [B], Class [C], Class [D], Class [E], Class [F] and Class [G] Certificates; provided, however, that for purposes of determining the most subordinate Class of Certificates, in the event that the Class [A] Certificates are the only Classes of Sequential Pay Certificates outstanding, the Class [A] Certificates and the Class [X] Certificates together will be treated as the most subordinate Class of Certificates. For purposes of this Agreement, each Class of Regular Certificates shall be deemed to be outstanding only to the extent its respective Certificate Principal Amount or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class [R] Certificates [and Class PEZ Regular Interests] shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.

Certain Constructions. For purposes of this Agreement, references to the most or next most subordinate Class of Certificates [or Class PEZ Regular Interests] outstanding at any time shall mean the most or next most subordinate Class of Certificates [or Class PEZ Regular Interests] then outstanding as among the Class [A], Class [X-A], Class [EC,] Class [X-B], Class [B], Class [C], Class [D], Class [E], Class [F] and Class [G] Certificates; provided, however, that for purposes of determining the most subordinate Class of Certificates, in the event that the Class [A] Certificates are the only Classes of Sequential Pay Certificates outstanding, the Class [A] Certificates and the Class [X] Certificates together will be treated as the most subordinate Class of Certificates. For purposes of this Agreement, each Class of Regular Certificates shall be deemed to be outstanding only to the extent its respective Certificate Principal Amount or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class [R] Certificates [and Class PEZ Regular Interests] shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.

Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Certificates [or Class PEZ Regular Interests] X-D Component outstanding at any time shall mean the most or next most subordinate Class of Certificates [or Class PEZ Regular Interests] X-D Component then outstanding as among the Class [A], Class [X-A], Class [X-B], Class [B]X-F, Class [C]X-G, Class [D]X-NR, Class [E]A-S, Class [B, Class C, Class D, Class E, Class F] , Class G and Class [G] CertificatesNR Certificates and the Class X-D Components; provided, however, that for purposes of determining the most subordinate Class of Certificates, in the event that the Class [A] A Certificates are the only Classes of Sequential Pay Principal Balance Certificates outstanding, the Class [A] A Certificates and the Class [X] -A Certificates together will be treated as the most subordinate Class of Certificates. For purposes of this Agreement, each Class of Regular Certificates shall be deemed to be outstanding only to the extent its respective Certificate Principal Amount Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class [R] R Certificates [and Class PEZ Regular Interests] shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.

Certain Constructions. For purposes of this Agreement, references to the most or next most subordinate Class of Certificates [or Class PEZ Regular Interests] outstanding at any time shall mean the most or next most subordinate Class of Certificates [or Class PEZ Regular Interests] then outstanding as among the Class [A], Class [X-A], Class [X-B], Class [B], Class [C], Class [D], Class [E], Class [F] and Class [G] Certificates; provided, however, that for purposes of determining the most subordinate Class of Certificates, in the event that the Class [A] Certificates are the only Classes of Sequential Pay Certificates outstanding, the Class [A] Certificates and the Class [X] Certificates together will be treated as the most subordinate Class of Certificates. For purposes of this Agreement, each Class of Regular Certificates shall be deemed to be outstanding only to the extent its respective Certificate Principal Amount or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class [R] R Certificates [and Class PEZ Regular Interests] shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.

Certain Constructions. For purposes of this Agreement, references to the most or next most subordinate Class of Certificates [or Class PEZ Regular Interests] outstanding at any time shall mean the most or next most subordinate Class of Certificates [or Class PEZ Regular Interests] then outstanding as among the Class [A], Class [X-A], Class [X-B], Class [B], Class [C], Class [D], Class [E], Class [F] and Class [G] Certificates; provided, however, that for purposes of determining the most subordinate Class of Certificates, in the event that the Class [A] Certificates are the only Classes of Sequential Pay Certificates outstanding, the Class [A] Certificates and the Class [X] Certificates together will be treated as the most subordinate Class of Certificates. For purposes of this Agreement, each Class of Regular Certificates shall be deemed to be outstanding only to the extent its respective Certificate Principal Amount or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class [R] Certificates [and Class PEZ Regular Interests] shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.

Certain Constructions. For purposes of this Agreement, references to the most or next most subordinate Class of Certificates [or Class PEZ Regular Interests] outstanding at any time shall mean the most or next most subordinate Class of Certificates [or Class PEZ Regular Interests] then outstanding as among the Class [A], Class [X-A], Class [X-B], Class [B], Class [C], Class [D], Class [E], Class [F] and Class [G] Certificates; provided, however, that for purposes of determining the most subordinate Class of Certificates, in the event that the Class [A] Certificates are the only Classes of Sequential Pay Certificates outstanding, the Class [A] Certificates and the Class [X] Certificates together will be treated as the most subordinate Class of Certificates. For purposes of this Agreement, each Class of Regular Certificates shall be deemed to be outstanding only to the extent its respective Certificate Principal Amount Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class [R] Certificates [and Class PEZ Regular Interests] shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.