Group 2 Stepdown Date. The earlier to occur of (1) the Distribution Date following the Distribution Date on which the aggregate Class Principal Amount of the Class AV Certificates has been reduced to zero and (2) the later to occur of (x) the Distribution Date occurring in March 2010, and (y) the first Distribution Date on which the Group 2 Senior Enhancement Percentage is greater than or equal to 42.50% (for the purpose of this definition only, the Group 2 Senior Enhancement Percentage shall be calculated prior to the distribution of Group 2-A Principal Distribution Amount and Group 2-B Principal Distribution Amounts on the Class MV Certificates).
Group 2 Stepdown Date. The later to occur of (x) the Payment Date occurring in June 2011 and (y) the first Payment Date for which the aggregate Stated Principal Balance of the Group 2 Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period, and after reduction for Realized Losses incurred during the related Prepayment Period) is less than or equal to 50.00% of the sum of the Group 2 Cut-off Date Balance.
Group 2 Stepdown Date. With respect to the Group 2 Certificates, the later to occur of (i) the Distribution Date in March 2004 or (ii) the first Distribution Date on which the Group 2 Class A Certificate Principal Balance is less than or equal to 88.80% of the Stated Principal Balances for such Distribution Date of the Group 2 Mortgage Loans.
Examples of Group 2 Stepdown Date in a sentence
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If a Trigger Event for Group 2 Mortgage Loans is in effect on and after the Group 2 Stepdown Date, the Group 2 Targeted Overcollateralization Amount for any Payment Date shall be equal to the Group 2 Targeted Overcollateralization Amount for the immediately preceding Payment Date.
More Definitions of Group 2 Stepdown Date
Group 2 Stepdown Date. The earlier of (i) the first Distribution Date on which the Certificate Principal Balances of the Class 2-A Certificates have been reduced to zero and (ii) the later to occur of (x) the Distribution Date occurring in April 2013 and (y) the first Distribution Date on which the aggregate Certificate Principal Balance of the Class 2-A Certificates (calculated for this purpose only after taking into account the receipt of principal on the Mortgage Loans, but prior to any distribution of principal to the holders of the certificates) is less than or equal to approximately 61.90% of the aggregate principal balance of the Group 2 Loans, calculated after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period.
Group 2 Stepdown Date. The earlier to occur of (1) the Distribution Date following the Distribution Date on which the aggregate Class Principal Amount of the Class AV Certificates has been reduced to zero and (2) the later to occur of (x) the Distribution Date occurring in June 2010, and (y) the first Distribution Date on which the Group 2 Senior Enhancement Percentage is greater than or equal to 49.30%.
Group 2 Stepdown Date. The earlier to occur of:
Group 2 Stepdown Date. For any Payment Date, the later to occur of (x) the Payment Date occurring in June 2008 and (y) the first Payment Date on which the Group 2 Senior Enhancement Percentage, calculated for this purpose only after taking into account payments of principal on the Loans, but prior to any payment of the Group 2 Principal Payment Amount to the Group 2 Notes then entitled to payments of principal on that Payment Date, is greater than or equal to 44.11%.
Group 2 Stepdown Date. The later to occur of (x) the Payment Date occurring in November 2008 and (y) the first Payment Date for which the aggregate Stated Principal Balance of the Group 2 Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period, and after reduction for Realized Losses incurred during the related Prepayment Period) is less than or equal to 50.00% of the Group 2 Cut-off Date Balance. HAZARDOUS MATERIALS: Any dangerous, toxic or hazardous pollutants, chemicals, wastes, or substances, including, without limitation, those so identified pursuant to the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. Section 9601 et seq., or any other environmental laws now existing, and specifically including, without limitation, asbestos and asbestos-containing materials, polychlorinated biphenyls, radon gas, petroleum and petroleum products, urea formaldehyde and any substances classified as being "in inventory", "usable work in progress" or similar classification which would, if classified unusable, be included in the foregoing definition. IMPAC HOLDINGS: Impac Mortgage Holdings, Inc., a Maryland corporation, and its successors and assigns.
Group 2 Stepdown Date. The later to occur of (x) the Distribution Date occurring in April 2014 and (y) the first Distribution Date on which the aggregate Certificate Principal Balance of the Class 2-A Certificates (calculated, for this purpose only, prior to any distribution of principal to the holders of the certificates) is less than or equal to 87.50% of the aggregate principal balance of the Group 2 Loans, calculated after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period.
Group 2 Stepdown Date. As to the Group 2 Mortgage Loans, the later to occur of: