Examples of Cumulative Loss Event in a sentence
On any Distribution Date on which a Delinquency Event or a Cumulative Loss Event has occurred, the Required Overcollateralization Amount is equal to the Required Overcollateralization Amount as of the preceding Distribution Date.
Cumulative Loss Event: The occurrence of certain rates of cumulative losses during certain periods of time as specified in the Pooling and Servicing Agreement.
Subordination Required Overcollateralization Amount: On any Distribution Date on which a Delinquency Event or a Cumulative Loss Event has not occurred, the Subordination Required Overcollateralization Amount is equal to the Required Overcollateralization Amount exclusive of the OC Floor calculation, otherwise the Subordination Required Overcollateralization Amount is equal to the Required Overcollateralization Amount.
Required Overcollateralization Amount: On any Distribution Date on which a Cumulative Loss Event or a Delinquency Event has not occurred, the Required Overcollateralization Amount is equal to: (i) prior to the Stepdown Date, [2.00]% of the aggregate principal balance of the Mortgage Loans as of the Cut-off Date.
LEHMAN BROTHERS 12 -------------------------------------------------------------------------------- Credit Enhancement-Senior/Subordinate Structure (continued) -------------------------------------------------------------------------------- Cumulative Loss Event: If Cumulative Net Losses exceed the applicable percentage of the aggregate Original Class Principal Balances of the Offered Certificates.