Cumulative Loss Test. The Cumulative Loss Test for each period indicated below is satisfied if the Cumulative Loss Percentage does not exceed the percentage set out for such period below: Cumulative Loss Period Percentage ------ ---------------- December 2, 1997 - December 1, 1999 1.25% December 2, 1999 - December 1, 2000 1.50% December 2, 2000 - December 1, 2001 1.75% December 2, 2001 - and thereafter 2.25%
Cumulative Loss Test. The Cumulative Loss Test for each period indicated below is satisfied if the Cumulative Loss Percentage for such period does not exceed the percentage set out for such period below: Period Cumulative Loss Percentage ------ -------------------------- 1st - 24th Distribution Date 1.00% 25th - 36th Distribution Date 1.50% 37th - 48th Distribution Date 1.75% 49th - 60th Distribution Date and thereafter 2.00% CURTAILMENT: With respect to a Mortgage Loan, any payment of principal received during a Due Period as part of a payment that is in excess of the amount of the Monthly Payment due for such Due Period and which is not intended to satisfy the Mortgage Loan in full, nor is intended to cure a delinquency.
Cumulative Loss Test. The Cumulative Loss Test will be met with respect to a Distribution Date as follows: (i) for the 37th through the 48th Distribution Dates, if the Cumulative Loss Percentage for such Distribution Date is greater than 3.7%; (ii) for the 49th through the 60th Distribution Dates, if the Cumulative Loss Percentage for such Distribution Date is greater than 4.7%; (iii) for the 61st through the 72nd Distribution Dates, if the Cumulative Loss Percentage for such Distribution Date is greater than 5.3%; (iv) for the 73rd through the 84th Distribution Dates, if the Cumulative Loss Percentage for such Distribution Date is greater than 5.7%; and (v) for the 85th Distribution Date or any Distribution Date thereafter, if the Cumulative Loss Percentage for such Distribution Date is greater than 6.0%.
Examples of Cumulative Loss Test in a sentence
A Trigger Event will be in effect on a Distribution Date if either the Delinquency Test or the Cumulative Loss Test is failed.
A Subordinated Trigger Event will be in effect on a Distribution Date if both the Delinquency Test and the Cumulative Loss Test are failed.
The Stepdown Requirement is satisfied on any Payment -------------------- Date on or after the Payment Date in August 2001 if, as of such Payment Date, (x) the Rolling Delinquency Percentage is less than ____%, (y) the Cumulative Loss Test is satisfied and (z) the Annual Loss Percentage (Rolling Six Month) is not greater than or equal to ____%.
A Trigger Event will be in effect for a Group on a Distribution Date if either the Delinquency Test or the Cumulative Loss Test for such Group is failed.
More Definitions of Cumulative Loss Test
Cumulative Loss Test. The Cumulative Loss Test for each period indicated below is satisfied if the Cumulative Loss Percentage for such period does not exceed the percentage set out for such period below: Cumulative Loss Period Percentage ------ ---------- 1st - 24th Distribution Date 1.00% 25th - 36th Distribution Date 1.50% 37th - 48th Distribution Date 1.75% 49th - 60th Distribution Date and thereafter 2.00%
Cumulative Loss Test. The determination on any Distribution Date that the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period divided by the aggregate principal balance of the Mortgage Loans as of the Cut-off Date exceeds the applicable percentages set forth below with respect to such Distribution Date: Month Percentage ----- ---------- May 2010 to April 2011 [4.25%] May 2011 to April 2012 [6.50%] May 2012 to April 2013 [7.75%] May 2013 and thereafter [8.25%] ----------------------------------------------------------------------------------------------------------------------------------- The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this TERM SHEET relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor and this offering. You may get these documents for free by visiting XXXXX on the SEC Web site at xxx.xxx.xxx. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling DBSI's trading desk at 000-000-0000. This TERM SHEET is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. The information in this TERM SHEET is preliminary and is subject to completion or change. The information in this TERM SHEET, if conveyed prior to the time of your commitment to purchase, supersedes information contained in any prior similar TERM SHEET relating to these securities. THIS TERM SHEET IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. The information in this TERM SHEET may be based on preliminary assumptions about the pool assets and the structure. Any such assumptions are subject to change. ----------------------------------------------------------------------------------------------------------------------------------- SunTrust Acquisition Closed-End Seconds Trust, Deutsche Bank [LOGO] Series 2007-1 ----------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ ...
Cumulative Loss Test means with respect to any Distribution Date, a test that will be satisfied if the cumulative Realized Losses, as a percentage of the aggregate Unpaid Principal Balance of the Mortgage Loans as of the Cut-Off Date, does not exceed the applicable percentage indicated below:Distribution Date occurring in the period PercentageDecember 2017 to November 2019 1.20%December 2019 to November 2020 1.80%December 2020 to November 2021 2.40%December 2021 to November 2022 3.00%December 2022 to November 2023 3.60%December 2023 to November 2024 4.20%December 2024 to November 2025 4.80%December 2025 to November 2026 5.40%December 2026 and thereafter 6.00%
Cumulative Loss Test means with respect to each Distribution Date, a test that will be satisfied if the cumulative Realized Losses for each Mortgage Pool, as a percentage of the aggregate Stated Principal Balance of such Mortgage Pool as of the Cut-Off Date does not exceed the percentage indicated below:Distribution Date occurring in the period PercentageAugust 2016 to July 2017 0.10%August 2017 to July 2018 0.20%August 2018 to July 2019 0.30%August 2019 to July 2020 0.40%August 2020 to July 2021 0.50%August 2021 to July 2022 0.60%August 2022 to July 2023 0.70%August 2023 to July 2024 0.80%August 2024 to July 2025 0.90%August 2025 and thereafter 1.00%
Cumulative Loss Test means with respect to any Distribution Date, a test that will be satisfied if the cumulative Realized Losses, as a percentage of the aggregate Unpaid Principal Balance of the Mortgage Loans as of the Cut-Off Date, does not exceed the applicable percentage indicated below:Distribution Date occurring in the period PercentageNovember 2018 to October 2020 1.20%November 2020 to October 2021 1.80%November 2021 to October 2022 2.40%November 2022 to October 2023 3.00%November 2023 to October 2024 3.60%November 2024 to October 2025 4.20%November 2025 to October 2026 4.80%November 2026 to October 2027 5.40%November 2027 and thereafter 6.00%
Cumulative Loss Test means with respect to any Distribution Date, a test that will be satisfied if the cumulative Realized Losses, as a percentage of the aggregate Cut-Off Date Balance, do not exceed the applicable percentage indicated below: Distribution Date occurring in the period PercentageMarch 2019 to February 2021 1.20%March 2021 to February 2022 1.80%March 2022 to February 2023 2.40%March 2023 to February 2024 3.00%March 2024 to February 2025 3.60%March 2025 to February 2026 4.20%March 2026 to February 2027 4.80%March 2027 to February 2028 5.40%March 2028 and thereafter 6.00%
Cumulative Loss Test means with respect to any Distribution Date, a test that will be satisfied if the cumulative Realized Losses, as a percentage of the aggregate Cut-Off Date Balance, do not exceed the applicable percentage indicated below: Distribution Date occurring in the period PercentageAugust 2019 to July 2021 1.20%August 2021 to July 2022 1.80%August 2022 to July 2023 2.40%August 2023 to July 2024 3.00%August 2024 to July 2025 3.60%August 2025 to July 2026 4.20%August 2026 to July 2027 4.80%August 2027 to July 2028 5.40%August 2028 and thereafter 6.00%