Cumulative Loss Event. For any Distribution Date, a Cumulative Loss Event is occurring if Cumulative Net Realized Losses on the Mortgage Loans equal or exceed the percentage of the Aggregate Collateral Balance as of the Cut-off Date for that Distribution Date as specified below:
Cumulative Loss Event. For any Distribution Date in the applicable period below, if Cumulative Net Losses exceed the applicable percentage of the aggregate Original Class Principal Balances of the Offered Certificates: Number of Distribution Dates Percentages ------------------ ----------- 37-48 2.00% 49-60 2.40% 61-72 2.70% 73-84 2.85% 85 and thereafter 3.00%
Cumulative Loss Event. With respect to any Distribution Date, a Cumulative Loss Event occurs if the Cumulative Loss Percentage exceeds the applicable percentage set forth below with respect to such Distribution Date: Distribution Date Occurring In Loss Percentage -------------------------------------------------------------------------------- June 2009 through May 2010 4.75% of the Cut-off Date Pool Principal Balance June 2010 through May 2011 6.85% of the Cut-off Date Pool Principal Balance June 2011 through May 2012 8.50% of the Cut-off Date Pool Principal Balance June 2012 and thereafter 9.00% of the Cut-off Date Pool Principal Balance
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.
More Definitions of Cumulative Loss Event
Cumulative Loss Event. For any Payment Date in the applicable period below, if Cumulative Net Losses exceed the applicable percentage set forth below for the related Payment Date:
Cumulative Loss Event. For any Distribution Date, if Cumulative Net Losses exceed (i) for the initial Distribution Date in each of the distribution periods set forth below, the applicable Initial Percentage of the aggregate Pool Balance as of the Cut-off Date and (ii) for each successive Distribution Date in such distribution period, the applicable percentage for the previous Distribution Date plus the related Monthly Increment for such distribution period: Number of Initial Monthly Distribution Dates Percentages Increment ------------------ ----------- --------- 37-48 3.50% 0.135% 49-60 5.00% 0.104% 61-72 6.25% 0.063% 73 and thereafter 7.00% 0.000% Cumulative Net Losses: As of any date of determination, the aggregate of the Liquidation Loan Losses incurred from the Cut-Off Date through the end of the calendar month preceding such date of determination.
Cumulative Loss Event. With respect to any Distribution Date and each Servicer, a Cumulative Loss Event occurs if the Cumulative Loss Percentage for such Servicer exceeds the applicable percentage set forth below with respect to such Distribution Date: Distribution Date Occurring In Loss Percentage ---------------------------------- ------------------------------------------------ November 2009 through October 2010 4.10% of the Cut-off Date Pool Principal Balance of the Mortgage Loans serviced by such Servicer November 2010 through October 2011 6.75% of the Cut-off Date Pool Principal Balance of the Mortgage Loans serviced by such Servicer November 2011 through October 2012 8.60% of the Cut-off Date Pool Principal Balance of the Mortgage Loans serviced by such Servicer November 2012 and thereafter 9.75% of the Cut-off Date Pool Principal Balance of the Mortgage Loans serviced by such Servicer
Cumulative Loss Event. For any Distribution Date in the applicable period below, if Cumulative Net Losses exceed the applicable percentage set forth below for the related Distribution Date: Number of Distribution Dates Percentages 2.50% for the first month plus an additional 1/12th of 1.30% for each month thereafter 49-60 3.80% for the first month plus an additional 1/12th of 0.95% for each month thereafter 61-72 4.75% for the first month plus an additional 1/12th of 0.55% for each month thereafter 73-84 5.30% for the first month plus an additional 1/12th of 0.30% for each month thereafter 85 and thereafter
Cumulative Loss Event. For any Distribution Date in the applicable period below, if Cumulative Net Losses shall be in excess of the applicable percentage of the aggregate Pool Balance as of the Cut-off Date: Number of Distribution Dates Percentages ------------------ ----------- 37-48 3.50% 49-60 4.00% 61 and thereafter 4.50%
Cumulative Loss Event. With respect to any Distribution Date, a Cumulative Loss Event occurs if the Cumulative Loss Percentage exceeds the applicable percentage set forth below with respect to such Distribution Date: -------------------------------------------------------------------------- Distribution Date Occurring In Loss Percentage -------------------------------------------------------------------------- March 2008 through February 2009 4.000% of the Cut-off Date Pool Principal Balance -------------------------------------------------------------------------- March 2009 through February 2010 5.750% of the Cut-off Date Pool Principal Balance -------------------------------------------------------------------------- March 2010 through February 2011 7.250% of the Cut-off Date Pool Principal Balance -------------------------------------------------------------------------- March 2011 and thereafter 7.750% of the Cut-off Date Pool Principal Balance --------------------------------------------------------------------------
Cumulative Loss Event. For any Distribution Date, a Cumulative Loss Event is occurring if Cumulative Net Realized Losses on the Mortgage Loans, equal or exceed the percentage of the Aggregate Collateral Balance as of the Cut-off Date for that Distribution Date as specified below: Distribution Date Percentage of Aggregate Collateral Balance July 2006 - June 2009 N.A. July 2009 - June 2010 4.30% for the first month, plus an additional 1/12th of 2.40% for each month thereafter July 2010 - June 2011 6.70% for the first month, plus an additional 1/12th of 1.90% for each month thereafter July 2011 - June 2012 8.60% for the first month, plus an additional 1/12th of 0.95% for each month thereafter July 2012 and thereafter 9.55% Cumulative Net Realized Losses: As to any date of determination the aggregate amount of Realized Losses as reduced by any Net Recoveries received on Charged Off Loans.