Cumulative Loss Trigger Event. With respect to any Distribution Date, a Cumulative Loss Trigger Event exists if the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by (y) the Cut-off Date Pool Principal Balance exceeds the applicable cumulative loss percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage ------------------------------ -------------------------- May 2008 through April 2009 1.400% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 2.250% in November 2008) May 2009 through April 2010 3.100% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 3.950% in November 2009) May 2010 through April 2011 4.800% for the first month, plus an additional 1/12th of 1.400% for each month thereafter (e.g., 5.500% in November 2010) May 2011 through April 2012 6.200% for the first month, plus an additional 1/12th of 0.700% for each month thereafter (e.g., 6.550% in November 2011) May 2012 and thereafter 6.900%
Cumulative Loss Trigger Event. A Cumulative Loss Trigger Event has occurred with respect to any Distribution Date in or after May 2009, if the percentage obtained by dividing (x) the aggregate amount of Realized Losses incurred (less any Subsequent Recoveries) with respect to the Mortgage Loans from the Cut-off Date through the last day of the related Due Period by (y) the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, exceeds the applicable percentage set forth below for such Distribution Date: May 2009 through April 2010 1.50% for the first month, plus an additional 1/12th of 1.85% for each month thereafter. May 2010 through April 2011 3.35% for the first month, plus an additional 1/12th of 1.90% for each month thereafter. May 2011 through April 2012 5.25% for the first month, plus an additional 1/12th of 1.50% for each month thereafter. May 2012 through April 2013 6.75% for the first month, plus an additional 1/12th of 0.85% for each month thereafter. May 2013 through April 2014 7.60% for the first month, plus an additional 1/12th of 0.05% for each month thereafter. May 2014 and thereafter 7.65% for each month.
Cumulative Loss Trigger Event. A Cumulative Loss Trigger Event shall have occurred with respect to any Distribution Date if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses incurred on the Mortgage Loans from the Cut-off Date through the last day of the related Collection Period by (y) the Cut-off Date Balance exceeds the applicable percentages described below with respect to such Distribution Date:
Examples of Cumulative Loss Trigger Event in a sentence
Either a Delinquency Trigger Event or a Cumulative Loss Trigger Event.
A "Trigger Event," with respect to any Distribution Date consists of either a Delinquency Trigger Event with respect to that Distribution Date or a Cumulative Loss Trigger Event with respect to that Distribution Date.
Cumulative Loss Percentage 0.48% 0.40% (b) Applicable Loss Percentage for current Distribution 2.25% 3.25% (c) Cumulative Loss Trigger Event in effect NO NO VIII Pool Information No. Amount ---- ------ (a) Closing Mortgage Loan Principal Balance: 1.
More Definitions of Cumulative Loss Trigger Event
Cumulative Loss Trigger Event. If, with respect to any Distribution Date, the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period, divided by (y) the Cut-off Date Pool Principal Balance, exceeds the applicable loss percentages set forth below with respect to such Distribution Date: May 2008 through May 2009 1.15% for the first month, plus an additional 1/12th of 1.40 for each month thereafter May 2009 through April 2010 2.55% for the first month, plus an additional 1/12th of 1.45% for each month thereafter May 2010 through April 2011 4.00% for the first month, plus an additional 1/12th of 1.20% for each month thereafter May 2011 through April 2012 5.20% for the first month, plus an additional 1/12th of 0.65% for each month thereafter May 2012 and thereafter 5.85%
Cumulative Loss Trigger Event. A Cumulative Loss Trigger Event shall have occurred with respect to any Distribution Date if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses incurred on the Mortgage Loans from the Cut-off Date through the last day of the related Collection Period by (y) the sum of the Cut-off Date Balance and the Pre-Funding Amount, exceeds the applicable percentages described below with respect to such Distribution Date: November 2007 to October 2008 2.50% for the first month, plus an additional 1/12th of 1.00% for each month thereafter November 2008 to October 2009 3.50% for the first month, plus an additional 1/12th of 0.25% for each month thereafter November 2009 to October 2010 3.75% for the first month, plus an additional 1/12th of 0.25% for each month thereafter November 2010 and thereafter 4.00%
Cumulative Loss Trigger Event. A Cumulative Loss Trigger Event has occurred with respect to any Distribution Date in or after February 2008, if the percentage obtained by dividing (x) the aggregate amount of Realized Losses incurred (less any Subsequent Recoveries) with respect to the Mortgage Loans from the Cut-off Date through the last day of the related Due Period by (y) the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, exceeds the applicable percentage set forth below for such Distribution Date: February 2008 through January 2009 1.55% for the first month, plus an additional 1/12th of 1.95% for each month thereafter. February 2009 through January 2010 3.50% for the first month, plus an additional 1/12th of 1.00% for each month thereafter. February 2010 through January 2011 4.50% for the first month, plus an additional 1/12th of 1.00% for each month thereafter. February 2011 through January 2012 5.50% for the first month, plus an additional 1/12th of 0.25% for each month thereafter. February 2012 and thereafter 5.75% for each month.
Cumulative Loss Trigger Event. With respect to a Distribution Date on or after the Stepdown Date occurs if the aggregate amount of Realized Losses on the Mortgage Loans from (and including) the Cut-off Date to (and including) the related Due Date (reduced by the aggregate amount of Subsequent Recoveries received from the Cut-off Date through the Prepayment Period related to that Due Date) exceeds the applicable percentage, for such Distribution Date, of the Cut-off Date Pool Principal Balance, as set forth below: Distribution Date Percentage ----------------- ----------
Cumulative Loss Trigger Event. A Cumulative Loss Trigger Event is in effect with respect to a Distribution Date on or after the Stepdown Date if aggregate amount of Realized Losses on the Mortgage Loans from (and including) the Cut-off Date for each such Mortgage Loan to (and including) the related Due Date (reduced by the aggregate amount of Subsequent Recoveries received from the Cut-off Date through the Prepayment Period related to that Due Date) exceeds the applicable percentage, for such Distribution Date, of the aggregate Stated Principal Balance of the Mortgage Loans, as set forth below: April 2008 – March 2009 0.20% with respect to April 2008, plus an additional 1/12th of 0.30% for each month thereafter through March 2009 April 2009 – March 2010 0.50% with respect to April 2009, plus an additional 1/12th of 0.35% for each month thereafter through March 2010 April 2010 – March 2011 0.85% with respect to April 2010, plus an additional 1/12th of 0.40% for each month thereafter through March 2011 April 2011 – March 2012 1.25% with respect to April 2011, plus an additional 1/12th of 0.45% for each month thereafter through March 2012 April 2012 – March 2013 1.70% with respect to April 2012, plus an additional 1/12th of 0.15% for each month thereafter through March 2013 April 2013 and thereafter 1.85%
Cumulative Loss Trigger Event. With respect to a Distribution Date on or after the Stepdown Date, a Cumulative Loss Trigger Event will be in effect if (x) the aggregate amount of Realized Losses on the Mortgage Loans from the Cut-off Date for each such Mortgage Loan to (and including) the last day of the related Due Period (reduced by the aggregate amount of any Subsequent Recoveries received through the last day of that Due Period) exceeds (y) the applicable percentage, for such Distribution Date, of the sum of the aggregate Cut-off Date Principal Balance of the Initial Mortgage Loans and the Pre-Funded Amount, as set forth below: Distribution Date Percentage ----------------- ----------
Cumulative Loss Trigger Event. A Cumulative Loss Trigger Event is in effect with respect to any Distribution Date on or after the Stepdown Date if the aggregate amount of Realized Losses on the Mortgage Loans from (and including) the Cut-Off Date for each such Mortgage Loan to (and including) the related Due Date (reduced by the aggregate amount of Subsequent Recoveries received from the Cut-Off Date through the Prepayment Period related to that Due Date) exceeds the applicable percentage, for such Distribution Date, of the aggregate Stated Principal Balance of the Mortgage Loans, as set forth below: Distribution Date Percentage August 2008 — July 2009 0.20% with respect to August 2008, plus an additional 1/12th of 0.30% for each month thereafter through July 2009 August 2009 — July 2010 0.50% with respect to August 2009, plus an additional 1/12th of 0.35% for each month thereafter through July 2010 August 2010 — July 2011 0.85% with respect to August 2010, plus an additional 1/12th of 0.40% for each month thereafter through July 2011 August 2011 — July 2012 1.25% with respect to August 2011, plus an additional 1/12th of 0.25% for each month thereafter through July 2012 August 2012 and thereafter 1.50%