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 with respect to the Class B Notes shall be made on any Payment Date until all payments of interest then due and payable with respect to the Class A Notes on such Payment Date (including, without limitation, all accrued interest, all Class A Deficiency Amounts and all interest accrued on such Class A Deficiency Amounts) has been paid in 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 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 of principal of the Class A-2 Notes has been made.

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 interest accrued on such Class A Deficiency AmountsMandatory Decreases) has have been paid in full. Further, no payments on account of principal with respect to the Class B Notes shall be made on any Payment Date until full and all payments of principal then Insurer Fees and Insurer Reimbursement Amounts due and payable with respect to the Class A Notes on such Payment Date have been paid in full; provided. The Class B Noteholders shall not be entitled to receive the benefit of amounts (i) available under any Class A Letter of Credit, however, that during the Three-Year Notes Controlled Amortization Period, payment of principal of (ii) on deposit in a Class A Cash Collateral Account and (iii) on deposit in the Class B-1 A Reserve Account, in each case until the Class A Notes can be made on any Payment Date after the applicable Class A-1 Controlled Distribution Amount on such Payment Date has have been paid and before any payment of principal of the Class A-2 Notes has been madein 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 interest accrued on such Class A Deficiency Controlled Distribution Amounts) has have been paid in full. Further, no payments on account of principal with respect to the Class B Notes shall be made on any Payment Date until full and all payments of principal then Insurer Fees and Insurer Reimbursement Amounts due and payable with respect to the Class A Notes on such Payment Date have been paid in full; provided. The Class B Noteholders shall not be entitled to receive the benefit of amounts (i) available under any Class A Letter of Credit, however, that during the Three-Year Notes Controlled Amortization Period, payment of principal of (ii) on deposit in a Class A Cash Collateral Account and (iii) on deposit in the Class B-1 A Reserve Account, in each case until the Class A Notes can be made on any Payment Date after the applicable Class A-1 Controlled Distribution Amount on such Payment Date has have been paid and before any payment of principal of the Class A-2 Notes has been madein full.