Group II Cumulative Loss Trigger Event definition

Group II Cumulative Loss Trigger Event. A Group II 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 II 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 II Mortgage Loans as of the Cut-off Date, exceeds the percentage set forth below for such Distribution Date: Distribution Date Occurring in Cumulative Loss Percentage ---------------------------------- ----------------------------------------------------- November 2005 through 1.85% for the first month, plus an additional 1/12th October 2006 of 1.25% for each month thereafter. November 2006 through 3.10% for the first month, plus an additional 1/12th October 2007 of 0.75% for each month thereafter. November 2007 through 3.85% for the first month, plus an additional 1/12th October 2008 of 0.55% for each month thereafter. November 2008 through 4.40% for the first month, plus an additional 1/12th October 2009 of 0.55% for each month thereafter. November 2009 and thereafter 4.95% for each month
Sample 1
Group II Cumulative Loss Trigger Event. A Group II Cumulative Loss Trigger Event shall have occurred with respect to any Distribution Date beginning in April 2009 if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of Realized Losses incurred on the Pool II 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 percentage described below with respect to such Distribution Date: Distribution Date Loss Percentage April 2009 through March 2010 2.25 % April 2010 through March 2011 2.75 % April 2011 through March 2012 3.75 % April 2012 through March 2013 4.25 % April 2013 and thereafter 4.50 %
Sample 1
Group II Cumulative Loss Trigger Event. With respect to a Distribution Date on or after the Group II Stepdown Date, the aggregate amount of Realized Losses on the Mortgage Loans in Aggregate Loan Group II 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 II 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 II as set forth below: Distribution Date Percentage ----------------- ---------- March 2008 - February 2009..................... 0.25% with respect to March 2008, plus an additional 1/12th of 0.30% for each month thereafter through February 2009 March 2009 - February 2010..................... 0.55% with respect to March 2009, plus an additional 1/12th of 0.40% for each month thereafter through February 2010 March 2010 - February 2011..................... 0.95% with respect to March 2010, plus an additional 1/12th of 0.45% for each month thereafter through February 2011 March 2011 - February 2012..................... 1.40% with respect to March 2011, plus an additional 1/12th of 0.50% for each month thereafter through February 2012 March 2012 - February 2013..................... 1.90% with respect to March 2012, plus an additional 1/12th of 0.20% for each month thereafter through February 2013 March 2013 and thereafter...................... 2.10%
Sample 1

More Definitions of Group II Cumulative Loss Trigger Event

Group II Cumulative Loss Trigger Event means, with respect to any Distribution Date and the Group II Mortgage Loans, if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses incurred on the Group II 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 II Mortgage Loans as of the Cut-Off Date, exceeds the applicable percentages described below with respect to such Distribution Date:
Sample 1
Group II 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 II 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 II, exceeds the applicable percentages described below with respect to such Payment Date: Payment Date Occurring in Cumulative Loss Percentage September 2007 through August 2008 2.75% for the first month, plus an additional 1/12th of 1.00% for each month thereafter September 2008 through August 2009 3.75% for the first month, plus an additional 1/12th of 0.75% for each month thereafter September 2009 through August 2010 4.50% for the first month, plus an additional 1/12th of 0.25% for each month thereafter September 2010 and thereafter 4.75%
Sample 1
Group II Cumulative Loss Trigger Event. With respect to any Distribution Date and the Group II 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 II 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 II 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 April 25, 2005 to March 25, 2006 3.50% for the first month, plus an additional 1/12th of 2.00% for each month thereafter April 25, 2006 to March 25, 2007 5.50% for the first month, plus an additional 1/12th of 1.50% for each month thereafter April 25, 2007 to March 25, 2008 7.00% for the first month, plus an additional 1/12th of 0.75% for each month thereafter April 25, 2008 and thereafter 7.75%
Sample 1
Group II Cumulative Loss Trigger Event means, with respect to any Distribution Date and the Group II Mortgage Loans, if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses incurred on the Group II 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 II Mortgage Loans as of the Cut-Off Date, exceeds the applicable percentages described below with respect to such Distribution Date: Distribution Date Loss Percentage July 2005 - June 2006 3.25% for the first month, plus an additional 1/12th of 1.75% for each month thereafter. July 2006 – June 2007 5.00% for the first month, plus an additional 1/12th of 1.50% for each month thereafter. July 2007 – June 2008 6.50% for the first month, plus an additional 1/12th of 0.75% for each month thereafter. July 2008 and thereafter 7.25%
Sample 1
Group II 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 II incurred since the Cut-off Date through the last day of the related Due Period, divided by (y) the Group II Cut-off Date Pool Principal Balance, exceeds the applicable Cumulative Loss Percentages for Loan Group II.
Sample 1

Related to Group II 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 Due 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 March 2008 through February 1.400% for the first month, plus an additional 2009 1/12th of 1.750% for each month thereafter (e.g., 2.275% in September 2008) March 2009 through February 3.150% for the first month, plus an additional 2010 1/12th of 1.750% for each month thereafter (e.g., 4.025% in September 2009) March 2010 through February 4.900% for the first month, plus an additional 2011 1/12th of 1.400% for each month thereafter (e.g., 5.600% in September 2010) March 2011 through February 6.300% for the first month, plus an additional 2012 1/12th of 0.750% for each month thereafter (e.g., 6.675% in September 2011) March 2012 and thereafter 7.050%

  • Cumulative Loss Amount means the sum of the Monthly Loss Amounts less the sum of all Recovery Amounts.

  • Total Monthly Excess Spread As to any Distribution Date, an amount equal to the excess if any, of (i) the interest on the Mortgage Loans received by the Servicer on or prior to the related Determination Date or advanced by the Servicer for the related Remittance Date (net of Expense Fees) over (ii) the sum of the amounts payable to the Certificates pursuant to Section 4.02(a)(i) on such Distribution Date.

  • Cumulative Net Loss Ratio means, as of any Payment Date, the ratio (expressed as a percentage) of (i) the aggregate Principal Balance of Receivables that became Defaulted Receivables plus all the Cram Down Losses (without duplication) which occurred during the period from the Cut-Off Date through the end of the related Collection Period reduced by the amount of Liquidation Proceeds with respect to Defaulted Receivables received during such period which are applied to principal of the Defaulted Receivables to (ii) the Pool Balance as of the Cut-Off Date.

  • Excess Cash Flow Payment Period means, with respect to any Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Net Monthly Excess Cashflow With respect to each Distribution Date, the sum of (a) any Overcollateralization Release Amount for such Distribution Date and (b) the excess of (x) Available Funds for such Distribution Date over (y) the sum for such Distribution Date of (A) the Monthly Interest Distributable Amounts for the Class A Certificates and the Mezzanine Certificates, (B) the Unpaid Interest Shortfall Amounts for the Class A Certificates and (C) the Principal Remittance Amount.

  • Monthly Excess Cashflow For any Distribution Date, an amount equal to the sum of the Monthly Excess Interest and Overcollateralization Release Amount, if any, for such date.

  • Excess Cash Flow Payment Date means the earlier of (a) the date occurring 90 days after the last day of each fiscal year of the Borrower (commencing with the fiscal year of the Borrower ending December 31, 2018) and (b) the third Business Day following the date on which financial statements with respect to such period are delivered pursuant to Section 5.01(c).

  • Cumulative Loss Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the aggregate amount of Realized Losses incurred from the Cut-off Date to the last day of the calendar month preceding the month in which such Distribution Date occurs and the denominator of which is the Cut-off Date Pool Principal Balance of the Mortgage Loans.

  • Net Monthly Excess Cash Flow For any Distribution Date the amount remaining for distribution pursuant to subsection 4.02(a)(iii) (before giving effect to distributions pursuant to such subsection).

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Cumulative Excess Cash Flow means the sum of Excess Cash Flow (but not less than zero in any period) for the fiscal year ending on December 31, 2013 and Excess Cash Flow for each succeeding completed fiscal year.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Class A/B Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class A/B Interest Coverage Ratio is at least equal to 120.0 per cent.

  • Class C Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class C Interest Coverage Ratio is at least equal to 110.0 per cent.

  • Delinquency Trigger Event means, for any Collection Period, the aggregate Principal Balance of Delinquent Receivables that have been Delinquent Receivables for 61 days or more as a percentage of the Pool Balance as of the last day of the Collection Period exceeding or being equal to 6.62%.

  • Available Spread Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Spread Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Spread Account made or to be made with respect to such date) and (b) the Required Spread Account Amount, in each case on such Transfer Date.

  • Group II Basic Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the Group II Principal Remittance Amount for such Distribution Date over (ii)(a) the Overcollateralization Release Amount, if any, for such Distribution Date multiplied by (b) the Group II Allocation Percentage.

  • Adjusted Pool Balance means, on the Closing Date, an amount equal to:

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Group II Principal Distribution Amount With respect to any Distribution Date, the sum of (i) the Group II Basic Principal Distribution Amount for such Distribution Date and (ii)(a) the Extra Principal Distribution Amount for such Distribution Date multiplied by (b) the Group II Allocation Percentage.

  • Specified Spread Account Balance means on the Closing Date, % of the sum of the Pool Balance as of the [Initial] Cutoff Date and on any Payment Date thereafter the lesser of, (a) % of the [sum of (i) the] Pool Balance as of the [Initial] Cutoff Date [plus (ii) the aggregate Contract Value of all Subsequent Receivables sold to the Trust as of their respective Cutoff Dates] and (b) the outstanding principal amount of the Notes. However, if (A) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) will be reduced to % on such Payment Date and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Dates as provided in the following clauses (B), (C) or (D); (B) if the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Date in [Month] 20XX or any Payment Date thereafter and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date as provided in the following clause (C) or (D); (C) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Dates in [Month] 20XX or any Payment Date thereafter or [Month] 20XX or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date as provided in the following clause (D); and (D) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Dates in [Month] 20XX or any Payment Date thereafter, [Month] 20XX or any Payment Date thereafter or [Month] 20XX or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter. In addition to the ability to amend the “Specified Spread Account Balance” definition pursuant to Section 9.1(a) of the Indenture, the Specified Spread Account Balance may also be reduced or modified without the consent of the Holders of the Notes if the Rating Agency Condition is satisfied with respect to such reduction or modification.

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Quarterly Excess Available Funds Percentage means, with respect to the July 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.