Group 1 Senior Prepayment Percentage definition

Group 1 Senior Prepayment Percentage. On any Distribution Date occurring during the periods set forth below, as follows: Period (dates inclusive) Group 1 Senior Prepayment Percentage ----------------------------------------------------------------------------------------------------- March 25, 2003 - February 25, 2010 100% March 25, 2010 - February 25, 2011 Group 1 Senior Percentage plus 70% of the Group 1 Senior Mezzanine and Subordinate Percentage March 25, 2011 - February 25, 2012 Group 1 Senior Percentage plus 60% of the Group 1 Senior Mezzanine and Subordinate Percentage March 25, 2012 - February 25, 2013 Group 1 Senior Percentage plus 40% of the Group 1 Senior Mezzanine and Subordinate Percentage March 25, 2013 - February 25, 2014 Group 1 Senior Percentage plus 20% of the Group 1 Senior Mezzanine and Subordinate Percentage March 25, 2014 and thereafter Group 1 Senior Percentage In addition, no reduction of the Group 1 Senior Prepayment Percentage shall occur on any Distribution Date unless, as of the last day of the month preceding such Distribution Date, (A) the aggregate Scheduled Principal Balance of the Mortgage Loans delinquent 60 days or more (including for this purpose any such Mortgage Loans in foreclosure and Mortgage Loans with respect to which the related Mortgaged Property has been acquired by the Trust), averaged over the last six months, as a percentage of the sum of the aggregate Current Principal Amount of the Senior Mezzanine and Subordinate Certificates does not exceed 50%; and (B) cumulative Realized Losses on the Mortgage Loans do not exceed (a) 30% of the Original Senior Mezzanine and Subordinate Principal Balance if such Distribution Date occurs between and including March 2010 and February 2011, (b) 35% of the Original Senior Mezzanine and Subordinate Principal Balance if such Distribution Date occurs between and including March 2011 and February 2012,
Sample 1Sample 2
Group 1 Senior Prepayment Percentage. The Group 1 Senior Prepayment Percentage for any Distribution Date and Loan Group 1 occurring during the five years beginning on the first Distribution Date will equal 100%. The Group 1 Senior Prepayment Percentage for any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date will be as follows: for any Distribution Date in the first year thereafter, the Group 1 Senior Percentage plus 70% of the Group 1 Subordinate Percentage for such Distribution Date; for any Distribution Date in the second year thereafter, the Group 1 Senior Percentage plus 60% of the Group 1 Subordinate Percentage for such Distribution Date; for any Distribution Date in the third year thereafter, the Group 1 Senior Percentage plus 40% of the Group 1 Subordinate Percentage for such Distribution Date; for any Distribution Date thereafter, the Group 1 Senior Percentage plus 20% of the Group 1 Subordinate Percentage. If for any of the foregoing Distribution Dates the Group 1 Senior Percentage exceeds the initial Group 1 Senior Percentage, the Group 1 Senior Prepayment Percentage for that Distribution Date will once again equal 100%. Notwithstanding the foregoing no decrease in the reduction to the Group 1 Senior Prepayment Percentage for the related Senior Certificates as described above will occur if as of the first Distribution Date as to which any such decrease applies (i) the outstanding principal balance of the Group 1 Mortgage Loans delinquent 60 days or more (averaged over the preceding six month period), as a percentage of the aggregate Class Principal Balance of the Class I-B Certificates as of such Distribution Date is equal to or greater than 50% or (ii) cumulative Realized Losses with respect to the Group 1 Mortgage Loans plus the amount by which the total available coverage under the Mortgage Pool Insurance Policy relating to the Group 1 Mortgage Loans has been reduced as of such date exceed (a) with respect to the Distribution Date on the fifth anniversary of the first Distribution Date, 30% of the total as of the Closing Date of the aggregate Class Principal Balance of the Class I-B Certificates plus the Initial Mortgage Pool Insurance Policy Coverage Amount for Loan Group 1 (such total, the "Original Coverage Amount"), (b) with respect to the Distribution Date on the sixth anniversary of the first Distribution Date, 35% of such Original Coverage Amount, (c) with respect to the Distribution Date on the seventh anniversary of the first D...
Sample 1
Group 1 Senior Prepayment Percentage. For any Distribution Date during the five (5) years beginning on the first Distribution Date, 100%. The Group 1 Senior Prepayment Percentage and for any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date will, except as provided herein, be as follows: for any Distribution Date in the first (1st) year thereafter, the Group 1 Senior Percentage plus 70% of the Subordinate Percentage for such Distribution Date; for any Distribution Date in the second (2nd) year thereafter, the Group 1 Senior Percentage plus 60% of the Subordinate Percentage for such Distribution Date; for any Distribution Date in the third (3rd) year thereafter, the Group 1 Senior Percentage plus 40% of the Subordinate Percentage for such Distribution Date; for any Distribution Date in the fourth (4th) year thereafter, the Group 1 Senior Percentage plus 20% of the Subordinate Percentage for such Distribution Date; and for any Distribution Date in the fifth (5th) or later years thereafter, the Group 1 Senior Percentage for such Distribution Date (unless on any of the foregoing Distribution Dates, the Group 1 Senior Percentage exceeds the initial Group 1 Senior Percentage, in which case the Group 1 Senior Prepayment Percentage for such Distribution Date will once again equal 100%). Notwithstanding the foregoing, no decrease in the Group 1 Senior Prepayment Percentage will occur unless both of the Senior Step Down Conditions are satisfied.
Sample 1

Examples of Group 1 Senior Prepayment Percentage in a sentence

  • See the definition of "Group 1 Senior Prepayment Percentage or Group 2 Senior Prepayment Percentage".

  • The aforesaid increase was partially offset by the devaluation of the currency exchange rate of the Euro against the NIS, which resulted in a decrease of NIS 0.2 billion.

  • For any Distribution Date, the sum of (A) the aggregate, for each Group 1 Loan which became a Liquidated Mortgage Loan during the Prior Period, of the lesser of: (i) the Group 1 Senior Percentage of the Principal Balance of such Mortgage Loan and (ii) the Group 1 Senior Prepayment Percentage of the Liquidation Principal with respect to such Mortgage Loan and (B) the Group 1 Senior Prepayment Percentage of any Subsequent Recoveries for Loan Group 1 for such Distribution Date.

  • For any Distribution Date, an amount equal to the sum of (a) the Group 1 Senior Percentage of the Principal Payment Amount for Loan Group 1, (b) the Group 1 Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group 1 and (c) the Group 1 Senior Liquidation Amount.

Related to Group 1 Senior Prepayment Percentage

  • Senior Prepayment Percentage For any Distribution Date during the five years beginning on the first Distribution Date, 100%. The Senior Prepayment Percentage for any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date will, except as provided herein, be as follows: for any Distribution Date in the first year thereafter, the Senior Percentage plus 70% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the second year thereafter, the Senior Percentage plus 60% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the third year thereafter, the Senior Percentage plus 40% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the fourth year thereafter, the Senior Percentage plus 20% of the Subordinated Percentage for such Distribution Date; and for any Distribution Date thereafter, the Senior Percentage for such Distribution Date (unless on any Distribution Date the Senior Percentage exceeds the initial Senior Percentage, in which case the Senior Prepayment Percentage for such Distribution Date will once again equal 100%). Notwithstanding the foregoing, no decrease in the Senior Prepayment Percentage will occur unless both of the Senior Step Down Conditions are satisfied.

  • Class B-6 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-6 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-6 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-6 Prepayment Percentage for such Distribution Date will be zero.

  • Class B-5 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-5 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-5 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-5 Prepayment Percentage for such Distribution Date will be zero.

  • Class B-2 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-2 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-2 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-2 Prepayment Percentage for such Distribution Date will be zero.

  • Class B-4 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-4 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-4 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-4 Prepayment Percentage for such Distribution Date will be zero.

  • Class B-1 Prepayment Percentage As to any Distribution Date, the percentage calculated by multiplying the Subordinated Prepayment Percentage by either (i) if any Class B Certificates (other than the Class B-1 Certificates) are eligible to receive principal distributions for such Distribution Date in accordance with Section 4.01(d), a fraction, the numerator of which is the Class B-1 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d) or (ii) except as set forth in Section 4.01(d)(ii), in the event that the Class B Certificates (other than the Class B-1 Certificates) are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), one.

  • Class B-3 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-3 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-3 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-3 Prepayment Percentage for such Distribution Date will be zero.

  • Prepayment Percentage As of the Closing Date, approximately 0%, and thereafter, with respect to any Distribution Date, the excess of 100% over the Senior Prepayment Percentage.

  • Class B Prepayment Percentage Any of the Class B-1 Prepayment Percentage, Class B-2 Prepayment Percentage, Class B-3 Prepayment Percentage, Class B-4 Prepayment Percentage, Class B-5 Prepayment Percentage or Class B-6 Prepayment Percentage.

  • Subordinated Prepayment Percentage As to any Distribution Date, 100% minus the Senior Prepayment Percentage for such Distribution Date.

  • Subordinate Prepayment Percentage As to any Distribution Date and Loan Group, 100% minus the Senior Prepayment Percentage for such Loan Group for such Distribution Date.

  • Applicable Prepayment Percentage means, at any time, 75%; provided that, if at any time the Consolidated Senior Secured Net Leverage Ratio as of the last day of the fiscal year for which the Applicable Prepayment Percentage is calculated (as set forth in an officer’s certificate delivered pursuant to Section 9.01(e) for such fiscal year) is (i) less than or equal to 4.50:1.00 and greater than 4.00:1.00, the Applicable Prepayment Percentage shall instead be 50%, (ii) less than or equal to 4.00:1.00 and greater than 3.50:1.00, the Applicable Prepayment Percentage shall instead be 25% and (ii) less than or equal to 3.50:1.00, the Applicable Prepayment Percentage shall instead be 0%.

  • Prepayment Shift Percentage Not applicable.

  • Group I Senior Percentage As of each Distribution Date, the lesser of 100% and a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of the Group I Certificates immediately prior to such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) in Loan Group I immediately prior to such Distribution Date.

  • Group II Senior Percentage For any Distribution Date, the lesser of (i) 100% and (ii) the aggregate Class Principal Balance of the Group II-A and Residual Certificates divided by the aggregate Class Principal Balance of the Group II Loans (exclusive of the Class II-P Fraction thereof, with respect to any Class II-P Mortgage Loan), in each case immediately before such Distribution Date.

  • Senior Percentage As of any Distribution Date, the lesser of 100% and a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of the Senior Certificates (other than the Class A-P Certificates) immediately prior to such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) (other than the related Discount Fraction of each Discount Mortgage Loan) immediately prior to such Distribution Date.

  • Aggregate Senior Percentage With respect to any Distribution Date, the fraction, expressed as a percentage, the numerator of which is equal to the aggregate Class Certificate Balance of the Senior Certificates immediately prior to such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of all the Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to that prior Due Date).

  • Revolver Percentage means, for each Lender, the percentage of the Revolving Credit Commitments represented by such Lender’s Revolving Credit Commitment or, if the Revolving Credit Commitments have been terminated, the percentage held by such Lender (including through participation interests in Reimbursement Obligations) of the aggregate principal amount of all Revolving Loans and L/C Obligations then outstanding.

  • Class B Interest Percentage With respect to any Distribution Date and any Class of Class B Certificates, the percentage calculated by dividing the Interest Accrual Amount of such Class (determined without regard to clause (ii) of the definition thereof) by the Class B Interest Accrual Amount (determined without regard to clause (ii) of the definition of each Interest Accrual Amount).

  • Term Loan Percentage means, with respect to any Term Loan Lender at any time, the percentage of the total outstanding principal balance of the Term Loans represented by the outstanding principal balance of such Term Loan Lender’s Term Loans.

  • Principal Prepayment Period The month preceding the month in which the related Remittance Date occurs.

  • Principal Prepayment Amount For any Distribution Date and for any Loan Group, the sum with respect to the Mortgage Loans in such Loan Group of (i) Curtailments received during the Prior Period from such Mortgage Loans and (ii) Payoffs received during the Payoff Period from such Mortgage Loans.

  • Subordinate Percentage As of any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, any Loan Group, 100% minus the related Senior Percentage as of such Distribution Date.

  • Term Loan Commitment Percentage means, for any Lender, the percentage identified as its Term Loan Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 9.6.

  • Lockout Percentage For any Distribution Date occurring prior to the Distribution Date in September 2011, 0%. For any Distribution Date occurring thereafter, as follows: 30% for any Distribution Date on or after September 2011 and prior to September 2012; 40% for any Distribution Date on or after September 2012 and prior to September 2013; 60% for any Distribution Date on or after September 2013 and prior to September 2014; 80% for any Distribution Date on or after September 2014 and prior to September 2015; and 100% for any Distribution Date thereafter. Maturity Date: August 25, 2036, the Distribution Date immediately following the latest scheduled maturity date of any Mortgage Loan.

  • Prepayment Distribution Percentage With respect to any Distribution Date and each Class of Subordinate Certificates, under the applicable circumstances set forth below, the respective percentages set forth below: