Group I Cumulative Loss Trigger Event definition
Group I Cumulative Loss Trigger Event. A Group I Cumulative Loss Trigger Event has occurred with respect to a Distribution Date on or after the Distribution Date in November 2005, if the percentage obtained by dividing (x) the aggregate amount of Realized Losses incurred with respect to the Group I 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 Group I Mortgage Loans as of the Cut-off Date, exceeds the applicable percentage set forth below for such Distribution Date: Distribution Date Occurring in Cumulative Loss Percentage ---------------------------------- ----------------------------------------------------- November 2005 through October 2006 2.45% for the first month, plus an additional 1/12th of 1.70% for each month thereafter. November 2006 through October 2007 4.15% for the first month, plus an additional 1/12th of 0.95% for each month thereafter. November 2007 through October 2008 5.10% for the first month, plus an additional 1/12th of 0.75% for each month thereafter. November 2008 through October 2009 5.85% for the first month, plus an additional 1/12th of 0.70% for each month thereafter. November 2009 and thereafter 6.55% for each month
Group I 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 in Loan Group I incurred since the Cut-off Date through the last day of the related Due Period, divided by (y) the Group I Cut-off Date Pool Principal Balance, exceeds the applicable Cumulative Loss Percentages for Loan Group I.
Group I Cumulative Loss Trigger Event. With respect to any Distribution Date and the Group I Home Equity Loans, shall have occurred if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses incurred on the Group I Home Equity Loans from the Cut-Off Date through the last day of the related Remittance Period by (y) the aggregate Loan Balance of the Group I Home Equity Loans as of the Cut-Off Date, exceeds the applicable percentage described below with respect to such Distribution Date: April 25, 2005 to March 25, 2006 2.50% for the first month, plus an additional 1/12th of 1.00% for each month thereafter April 25, 2006 to March 25, 2007 3.50% for the first month, plus an additional 1/12th of 0.75% for each month thereafter April 25, 2007 to March 25, 2008 4.25% for the first month, plus an additional 1/12th of 0.50% for each month thereafter April 25, 2008 to March 25, 2009 4.75% for the first month, plus an additional 1/12th of 0.50% for each month thereafter April 25, 2009 and thereafter 5.25%
More Definitions of Group I Cumulative Loss Trigger Event
Group I Cumulative Loss Trigger Event means, with respect to any Distribution Date and the Group I Mortgage Loans, that the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses incurred on the Group I Mortgage Loans from the Cut-Off Date through the last day of the related Due Period by (y) the aggregate principal balance of the Group I Mortgage Loans as of the Cut-Off Date, exceeds the applicable percentages described below with respect to such Distribution Date: July 2005 - June 2006 2.25% for the first month, plus an additional 1/12th of 1.50% for each month thereafter. July 2006 - June 2007 3.75% for the first month, plus an additional 1/12th of 1.00% for each month thereafter. July 2007 - June 2008 4.75% for the first month, plus an additional 1/12th of 1.00% for each month thereafter. July 2008 and thereafter 5.75%
Group I Cumulative Loss Trigger Event. With respect to any Distribution Date and the Group I Home Equity Loans, shall have occurred if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses minus the aggregate amount of any Recoveries incurred on the Group I Home Equity Loans from the Cut-Off Date through the last day of the related Remittance Period by (y) the aggregate Loan Balance of the Group I Home Equity Loans as of the Cut-Off Date, exceeds the applicable percentage described below with respect to such Distribution Date: Distribution Date Loss Percentage October 2007 to September 2008: 2.00% for the first month, plus an additional 1/12th of 1.25% for each month thereafter. October 2008 to September 2009: 3.25% for the first month, plus an additional 1/12th of 0.75% for each month thereafter. October 2009 to September 2010: 4.00% for the first month, plus an additional 1/12th of 0.25% for each month thereafter. October 2010 and thereafter: 4.25%
Group I Cumulative Loss Trigger Event means, with respect to any Distribution Date and the Group I Mortgage Loans, that the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses incurred on the Group I Mortgage Loans from the Cut-Off Date through the last day of the related Due Period by (y) the aggregate principal balance of the Group I Mortgage Loans as of the Cut-Off Date, exceeds the applicable percentages described below with respect to such Distribution Date:
Group I Cumulative Loss Trigger Event. With respect to a Distribution Date on or after the Group I Stepdown Date, the aggregate amount of Realized Losses on the Mortgage Loans in Aggregate Loan Group I from (and including) the Cut-off Date to the related Due Date (reduced by the aggregate amount of Subsequent Recoveries related to Aggregate Loan Group I 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 State Principal Balance of the Mortgage Loans in Aggregate Loan Group I as set forth below: Distribution Date Percentage ----------------- ---------- March 2008 - February 2009..................... 0.20% with respect to March 2008, plus an additional 1/12th of 0.30% for each month thereafter through February 2009 March 2009 - February 2010..................... 0.50% with respect to March 2009, plus an additional 1/12th of 0.35% for each month thereafter through February 2010 March 2010 - February 2011..................... 0.85% with respect to March 2010, plus an additional 1/12th of 0.40% for each month thereafter through February 2011 March 2011 - February 2012..................... 1.25% with respect to March 2011, plus an additional 1/12th of 0.45% for each month thereafter through February 2012 March 2012 - February 2013..................... 1.70% with respect to March 2012, plus an additional 1/12th of 0.15% for each month thereafter through February 2013 March 2013 and thereafter...................... 1.85%
Group I Cumulative Loss Trigger Event. With respect to any Payment Date, if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses incurred with respect to Group I from the Cut-off Date through the last day of the related Due Period, less any related Subsequent Recoveries, by (y) the Initial Pool Balance with respect to Group I, exceeds the applicable percentages described below with respect to such Payment Date: September 2007 through August 2008 1.75% for the first month, plus an additional 1/12th of 0.50% for each month thereafter September 2008 through August 2009 2.25% for the first month, plus an additional 1/12th of 1.00% for each month thereafter September 2009 through August 2010 3.25% for the first month, plus an additional 1/12th of 0.50% for each month thereafter September 2010 and thereafter 3.75%