Increases in Class Principal Balances of the Notes. On each Payment Date on or prior to the Termination Date, the Class Principal Balance of each Class of Original Principal Balance Notes will be increased (in each case without regard to any exchanges of Exchangeable Notes for MAC Notes) by the amount of the increase, if any, in the Class Notional Amount of the Corresponding Class of Reference Tranche due to the allocation of Tranche Write-up Amounts to such Class of Reference Tranche on such Payment Date pursuant to Section 3.03(c) above. If on the Maturity Date or any Payment Date a Class of MAC Notes is outstanding, all Tranche Write-up Amounts that are allocable to Exchangeable Notes that were exchanged for such MAC Notes will be allocated to increase the Class Principal Balances or Notional Principal Amounts, as applicable, of such MAC Notes (or any MAC Notes further exchanged for such MAC Notes pursuant to Combination 4, 5, 6 or 7) in accordance with the exchange proportions applicable to the related Combination. Because the Notional Principal Amount of the Class B-1I Notes is based on the Class Principal Balance of the Class B-1D Notes, any Tranche Write-up Amounts allocated to the Class B-1D Notes will result in an increase in the Notional Principal Amount of the Class B-1I Notes calculated in accordance with its Notional Principal Amount definition.
Appears in 3 contracts
Sources: Global Agency Agreement, Stacr Debt Agreement, Exchange Administration Agreement