Senior Prepayment Percentage or Subgroup 2 Senior Prepayment Percentage. For any Distribution Date, each of the Subgroup 1 Senior Prepayment Percentage and Subgroup 2 Senior Prepayment Percentage shall equal 100%, unless (i) the Subgroup 1 Senior Percentage for such Distribution Date is less than or equal to the Subgroup 1 Senior Percentage as of the Closing Date and the Subgroup 2 Senior Percentage for such Distribution Date is less than or equal to the Subgroup 2 Senior Percentage as of the Closing Date, (ii) such Distribution Date occurs on or after the fifth anniversary of the first Distribution Date and (iii) the following tests specified in clauses (a) through (d) are met with respect to each of Subgroup 1 and Subgroup 2:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-5), Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-3)
Senior Prepayment Percentage or Subgroup 2 Senior Prepayment Percentage. For any Distribution Date, each of the Subgroup 1 Senior Prepayment Percentage and the Subgroup 2 Senior Prepayment Percentage shall equal 100%, unless (i) the Subgroup 1 Senior Percentage for such Distribution Date is less than or equal to the Subgroup 1 Senior Percentage as of the Closing Date and the Subgroup 2 Senior Percentage for such Distribution Date is less than or equal to the Subgroup 2 Senior Percentage as of the Closing Date, (ii) such Distribution Date occurs on or after the fifth anniversary of the first Distribution Date and (iii) the following tests specified in clauses (a) through (d) are met with respect to each of Subgroup 1 and Subgroup 2:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Wamu Mortage Pass Thru Cert Ser 2003-S8), Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certs Ser 2003-S10)
