Common use of Hypothetical Structure and Reference Tranches Clause in Contracts

Hypothetical Structure and Reference Tranches. (a) General. Solely for purposes of making the calculations for each Payment Date of any (i) principal write-downs (or write-ups) on the Notes as a result of Credit Events (or reversals thereof) or Modification Events on the Reference Obligations, (ii) any reduction or increase in interest amounts on the Notes as a result of Modification Events on the Reference Obligations and (iii) principal payments required to be made on the Notes by Freddie Mac, a hypothetical structure of 11 classes of Reference Tranches (the Class A-H, Class X-0, Xxxxx X-0X, Class M- 2, Class M-2H, Class X-0X, Xxxxx X-0XX, Class M-3B, Class M-3BH, Class B and Class B-H Reference Tranches) deemed to be backed by the Reference Pool is hereby established. Each Class of Reference Tranche will have the initial Class Notional Amount set forth in the definition of “Reference Tranches” in Article I (Definitions) in this Agreement, and the aggregate of the initial Class Notional Amounts of all the Reference Tranches will equal the Cut-off Date Balance.

Hypothetical Structure and Reference Tranches. (a) General. Solely for purposes of making the calculations for each Payment Date of any (i) principal write-downs (or write-ups) on the Notes as a result of Credit Events (or reversals thereof) or Modification Events on the Reference Obligations, (ii) any reduction or increase in interest amounts on the Notes as a result of Modification Events on the Reference Obligations and (iii) principal payments required to be made on the Notes by Freddie Xxxxxxx Mac, a hypothetical structure of 11 classes of Reference Tranches (the Class A-H, Class X-0, Xxxxx X-0X, Class M- 22A, Class M-2HM-2AH, Class X-0X, Xxxxx X-0XXM-2B, Class M-3BM-2BH, Class M-3BHB-1, Class B B-1H, Class B-2 and Class B-H B- 2H Reference Tranches) deemed to be backed by the Reference Pool is hereby established. Each Class of Reference Tranche will have the initial Class Notional Amount set forth in the definition of “Reference Tranches” in Article I (Definitions) in this Agreement, and the aggregate of the initial Class Notional Amounts of all the Reference Tranches will equal the Cut-off Date Balance.

Hypothetical Structure and Reference Tranches. (a) General. Solely for purposes of making the calculations for each Payment Date of any (i) principal write-downs (or write-ups) on the Notes as a result of Credit Events (or reversals thereof) or Modification Events on the Reference Obligations, (ii) any reduction or increase in interest amounts on the Notes as a result of Modification Events on the Reference Obligations and (iii) principal payments required to be made on the Notes by Freddie Xxxxxxx Mac, a hypothetical structure of 11 classes of Reference Tranches (the Class A-H, Class X-0, Xxxxx X-0X, Class M- 2, Class M-2H, Class X-0X, Xxxxx X-0XX, Class M-3B, Class M-3BH, Class B and Class B-H Reference Tranches) deemed to be backed by the Reference Pool is hereby established. Each Class of Reference Tranche will have the initial Class Notional Amount set forth in the definition of “Reference Tranches” in Article I (Definitions) in this Agreement, and the aggregate of the initial Class Notional Amounts of all the Reference Tranches will equal the Cut-off Date Balance.

Hypothetical Structure and Reference Tranches. (a) General. Solely for purposes of making the calculations for each Payment Date of any (i) principal write-downs (or write-ups) on the Notes as a result of Credit Events (or reversals thereof) or Modification Events on the Reference Obligations, (ii) any reduction or increase in interest amounts on the Notes as a result of Modification Events on the Reference Obligations and (iii) principal payments required to be made on the Notes by Freddie Mac, a hypothetical structure of 11 classes of Reference Tranches (the Class A-H, Class X-0, Xxxxx X-0X, Class M- 22A, Class M-2HM-2AH, Class X-0X, Xxxxx X-0XXM-2B, Class M-3BM-2BH, Class M-3BHB-1, Class B B-1H, Class B-2 and Class B-H B- 2H Reference Tranches) deemed to be backed by the Reference Pool is hereby established. Each Class of Reference Tranche will have the initial Class Notional Amount set forth in the definition of “Reference Tranches” in Article I (Definitions) in this Agreement, and the aggregate of the initial Class Notional Amounts of all the Reference Tranches will equal the Cut-off Date Balance.

Hypothetical Structure and Reference Tranches. (a) General. Solely for purposes of making the calculations for each Payment Date of any (i) principal write-downs (or write-ups) on the Notes as a result of Credit Events (or reversals thereof) or Modification Events on the Reference Obligations, (ii) any reduction or increase in interest amounts on the Notes as a result of Modification Events on the Reference Obligations and (iii) principal payments required to be made on the Notes by Freddie Mac, a hypothetical structure of 11 classes of Reference Tranches (the Class A-H, Class X-0M-1, Xxxxx X-0XClass M-1H, Class M- 22A, Class M-2HM-2AH, Class X-0X, Xxxxx X-0XXM-2B, Class M-3BM-2BH, Class M-3BHB-1, Class B B-1H, Class B-2 and Class B-H B- 2H Reference Tranches) deemed to be backed by the Reference Pool is hereby established. Each Class of Reference Tranche will have the initial Class Notional Amount set forth in the definition of “Reference Tranches” in Article I (Definitions) in this Agreement, and the aggregate of the initial Class Notional Amounts of all the Reference Tranches will equal the Cut-off Date Balance.