have incurred limited or zero losses to date.
(21) Since the 1970s, the Court--when it has reviewed the constitutionality of facially neutral laws that disparately harm members of historically subordinated classes
, such as African Americans or women--has applied a deferential rational basis review unless the plaintiffs have proven that the law was motivated by a discriminatory purpose and thus functions as a de facto classification.
These struggles transcended factory gates and aimed at making links with other segments of the subordinated classes
and thus represented a step forward.
Additionally, the company said that the above transaction included the issue of USD300m class A-1 notes that accrue interest at an annual fixed rate of 1.45% and USD125m of class A-2 notes that accrues interest at a floating rate equal to one-month LIBOR plus annual 0.48%; and the issue of three subordinated classes
of notes of total USD75m.
High delinquencies and losses from the collateral will drain the cash flow of the subordinated classes
and eventually weaken the credit-enhancement structure.
In a typical equipment ABS deal, pro rata payment of the senior and subordinated classes
will revert to sequential payment if the C/E floors are hit.
If market forces or over-leveraging wipe out most of the value of a transaction's subordinated classes
, the special servicer owning those classes may lose its incentive to maximize resolution of mortgages in default.
He reveals different perceptions between classical and contemporary theorists of democracy as the earlier revolutionary and liberating substance of democratic ideas has gradually given way to a convergence of democracy and capitalism in the twentieth century leading to varied outcomes: "When bourgeois hegemony succeeded in introducing into the consciousness of the subordinated classes
the ideological justification of its class domination, the democratic state could coexist" without force; yet when "bourgeois hegemony was not achieved, the faulty constitution of democratic capitalism rapidly gave way to fascism or dictatorship" (p.
Through the use of formal legal, political, and military power, the ruling elites present their dominant positions as both natural and necessary, and thus exclude from participation the subordinated classes
. Western modernization theorists help perpetuate these biases because their definitions of political participation in the Middle East deny the political resources and experiences of nonelites.
Residual interests (for example, CMO residuals) and subordinated classes
of pass-through securities or CMOs that absorb more than their pro rata share of loss are assigned to the 100 percent risk weight category.
Further, three subordinated classes
of notes of USD75m total were also issued in the transaction and these were bought by Cabela's wholly-owned subsidiary, World's Foremost Bank and each class of these notes has an expected life of about five years and a legal maturity of about eight years.
Private-label securitization also has been affected by the expansion of the "B-piece" market, characterized by lower-rated and volatile subordinated classes
of mortgage security offerings.