Senior Tranche definition

Senior Tranche means the tranche within an SBBSs issue that bears losses after all the subordinated tranches of that SBBS issue have done so;

Senior Tranche. (i) With respect to a Participation or B Note, any senior interest in the same Underlying Term Loan as a Participation or any senior debt secured by the same Underlying Mortgage Property as a B Note or Participation and (ii) with respect to a Mezzanine Loan, any commercial mortgage loan related to the same Underlying Mortgage Property or Properties as the Mezzanine Loan.

Senior Tranche means a tranche which is effectively backed or secured by a first claim on the entire amount of the assets in the underlying securitised pool;

Examples of Senior Tranche in a sentence

• The Portfolio Notional Amount will be allocated between three tranches (each, a “Tranche”) as follows:Senior Tranche; Class B Tranche; and Junior Tranche.For the purpose of this Transaction, the Senior Tranche shall be regarded as the most senior Tranche and the Junior Tranche shall be regarded as the most junior Tranche.

• The Agent may, if it so elects, seek the appointment of a receiver or keeper to take possession of Senior Tranche Collateral and to enforce any of the Agent’s remedies (for the benefit of the Agent and Senior Tranche Secured Parties), with respect to such appointment without prior notice or hearing as to such appointment.

• Seller acknowledges and agrees that the terms of any such Subordinate Financing will provide that a default under the Senior Tranche shall be a default under the respective Subordinate Financing.

• Report the amount of investments in Senior Tranche Privately Issued Residential Mortgage Related Securities (as defined in 15 U.S.C. 78c(a)(41)).

• Report the amount of investments in Senior Tranche Privately Issued Commercial Mortgage Related Securities (as defined in 15 U.S.C.78c(a)(41)).

More Definitions of Senior Tranche

Senior Tranche shall have the meaning set forth in Section 28(a).

Senior Tranche has the meaning assigned to it in Section 3.01(a)(i) or, where the context so requires, the amount of the facility disbursed thereon to the extent not cancelled or reduced pursuant to this Agreement;  "Senior Tranche Commitment"at any time during a Specified Period, the amount (in Dollars) set opposite that Specified Period in the table in Part I of Schedule 9 to the extent not cancelled or reduced by IFC under this Agreement;  "Shell Bank" a bank that is incorporated in a jurisdiction in which it has no physical presence and that is not an Affiliate of a regulated bank or a regulated financial group; 

Senior Tranche means the portion of the Policy initially insuring $129,684,000 of principal and interest in respect of the Series A Bonds representing the third loss layer of the Policy to be drawn in the event of a Policy Payment.

Senior Tranche means the amount of the Revolving Credit Aggregate Commitment funded by the Lenders in the amount of up to Twenty-One Million Five Hundred Twenty-Three Thousand and 00/100 ($21,523,000.00) reducing to Eighteen Million One Hundred Eighty-Two Thousand and 00/100 ($18,182,000.00) Dollars from and after May 28, 2023.

Senior Tranche means, with respect to each Loan, the portion thereof not in excess of eighty-five percent (85%) of the Total Cost of the Asset Pool to be financed with such Loan.

Senior Tranche has the meaning assigned to it in Section 3.01(a)(i) or, where the context so requires, the amount of the facility disbursed thereon to the extent not cancelled or reduced pursuant to this Agreement;

Senior Tranche means an amount equal to not less than -------------- $110,000,000 or more than $160,000,000 which shall be used to fund all Loans other than those made pursuant to the Junior Tranche.