Stepdown Date. The later to occur of (x) the Distribution Date in November 2007 and (y) the first Distribution Date on which the Senior Enhancement Percentage (calculated for this purpose after giving effect to payments or other recoveries in respect of the Mortgage Loans during the related Collection Period but before giving effect to distributions on the Certificates on such Distribution Date) is greater than or equal to 28.50%.
Stepdown Date. The earlier of (i) the first Distribution Date following the Distribution Date on which the Class Principal Amounts of the Senior Certificates have each been reduced to zero or (ii) the later to occur of (x) the Distribution Date in December 2009 and (y) the first Distribution Date on which the Senior Enhancement Percentage (calculated for this purpose after giving effect to payments or other recoveries in respect of the Mortgage Loans during the related Collection Period but before giving effect to distributions on the Certificates on such Distribution Date) is greater than or equal to 32.30%.
Stepdown Date. 43 Subsequent Cut-off Date........................................................................44
Stepdown Date. Not applicable.
Stepdown Date. 46 Subordination......................................................46
Stepdown Date. The earlier to occur of (a) the first Distribution Date on or prior to which the Class A Principal Balance has been reduced to zero and (b) the later to occur of (x) the Distribution Date in July 2010 and (y) the Enhancement Date. Subordinated Certificates. The Class M Certificates.
Stepdown Date. 55 Subordinate Certificates...................................................................................55
Stepdown Date. 39 Subservicer.............................................................................................39
Stepdown Date. The earlier to occur of:
Stepdown Date. The earlier of (a) the Distribution Date on which the Class Certificate Balances of the Senior Certificates have been reduced to zero or (b) the later to occur of (i) the Distribution Date in June 2010 (the 37th Distribution Date) or (ii) the first Distribution Date on which the Senior Enhancement Percentage is greater than or equal to the Senior Specified Enhancement Percentage. The Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class B-1, Class B-2 and Class B-3 Certificates.
