Common use of Subordination of Class B Notes Clause in Contracts

Subordination of Class B Notes. Notwithstanding anything to the contrary contained herein or in any other Related Document, the Class B Notes will be subordinate in all respects to the Class A Notes. No payments on account of interest or principal with respect to the Class B Notes shall be made on any Payment Date until all payments of interest and principal then due and payable with respect to the Class A Notes on such Payment Date (including, without limitation, all accrued interest, all interest accrued on such accrued interest, all Class A Deficiency Amounts and all Mandatory Decreases) have been paid in full and all Insurer Fees and Insurer Reimbursement Amounts due on such Payment Date have been paid in full. The Class B Noteholders shall not be entitled to receive the benefit of amounts (i) available under any Class A Letter of Credit, (ii) on deposit in a Class A Cash Collateral Account and (iii) on deposit in the Class A Reserve Account, in each case until the Class A Notes have been paid in full.

Subordination of Class B Notes. Notwithstanding anything to the contrary contained herein or in any other Related Document, the Class B Notes will be subordinate in all respects to the Class A Notes. No payments on account of interest or principal with respect to the Class B Notes shall be made on any Payment Date until all payments of interest and principal then due and payable with respect to the Class A Notes on such Payment Date (including, without limitation, all accrued interest, all interest accrued on such accrued interest, all Class A Deficiency Amounts and all Mandatory Decreasesinterest accrued on such Class A Deficiency Amounts) have has been paid in full full. Further, no payments on account of principal with respect to the Class B Notes shall be made on any Payment Date until all payments of principal then due and all Insurer Fees and Insurer Reimbursement Amounts due payable with respect to the Class A Notes on such Payment Date have been paid in full. The Class B Noteholders shall not be entitled to receive ; provided, however, that during the benefit Three-Year Notes Controlled Amortization Period, payment of amounts (i) available under any Class A Letter principal of Credit, (ii) on deposit in a Class A Cash Collateral Account and (iii) on deposit in the Class A Reserve Account, in each case until B-1 Notes can be made on any Payment Date after the applicable Class A-1 Controlled Distribution Amount on such Payment Date has been paid and before any payment of principal of the Class A A-2 Notes have has been paid in fullmade.

Subordination of Class B Notes. Notwithstanding anything to the contrary contained herein or in any other Related Document, the Class B Notes will be subordinate in all respects to the Class A Notes. No payments on account of interest or principal with respect to the Class B Notes shall be made on any Payment Date until all payments of interest and principal then due and payable with respect to the Class A Notes on such Payment Date (including, without limitation, all accrued interest, all interest accrued on such accrued interest, all Class A Deficiency Amounts and all Mandatory Decreasesinterest accrued on such Class A Deficiency Amounts) have has been paid in full full. Further, no payments on account of principal with respect to the Class B Notes shall be made on any Payment Date until all payments of principal then due and all Insurer Fees and Insurer Reimbursement Amounts due payable with respect to the Class A Notes on such Payment Date have been paid in full. The , provided, however, that (x) during the Three-Year Notes Controlled Amortization Period, payment of principal of the Class B Noteholders shall not B-1 Notes can be entitled to receive made on any Payment Date after the benefit applicable Class A-1 Controlled Distribution Amount on such Payment Date has been paid and before any payment on principal of amounts (i) available under any the Class A Letter of Credit, (ii) on deposit in a A-2 Notes and the Class A Cash Collateral Account A-3 Notes has been made and (iiiy) on deposit in during the Five-Year Notes Controlled Amortization Period, payment of principal of the Class A Reserve Account, in each case until B-2 Notes can be made on any Payment Date after the applicable Class A-2 Controlled Distribution Amount on such Payment Date has been paid and before any payment on principal of the Class A A-3 Notes have has been paid in fullmade.

Subordination of Class B Notes. Notwithstanding anything to the contrary contained herein or in any other Related DocumentDocument but subject to the provisions contained in Section 6.18 of this Series Supplement, the Class B Notes will be subordinate in all respects to the Class A Notes. No payments on account of interest or principal with respect to the Class B Notes shall be made on any Payment Date until all payments of interest and principal then due and payable with respect to the Class A Notes on such Payment Date (including, without limitation, all accrued interest, all interest accrued on such accrued interest, all Class A Deficiency Amounts and all Mandatory Decreasesinterest accrued on such Class A Deficiency Amounts) have has been paid in full full. Further, no payments on account of principal with respect to the Class B Notes shall be made on any Payment Date until all payments of principal then due and all Insurer Fees and Insurer Reimbursement Amounts due payable with respect to the Class A Notes on such Payment Date have been paid in full, provided, however, that during the Three-Year Notes Controlled Amortization Period, payment of principal of the Class B-1 Notes can be made on any Payment Date after the applicable Class A-1 Controlled Distribution Amount on such Payment Date has been paid and before any payment on principal of the Class A-2 Notes have been made. The As long as the Class A Notes are Outstanding, the Class B Noteholders shall not be entitled to receive the benefit of amounts (i) available under any Class A Letter of Credit, (ii) on deposit in a Class A Cash Collateral Account and or (iii) on deposit in the Class A Reserve Account, in each case until the Class A Notes have been paid in full.