Group II Delinquency Trigger Event definition
Group II Delinquency Trigger Event. A Group II Delinquency Trigger Event has occurred with respect to a Distribution Date if the Group II Delinquency Percentage exceeds 50% of the Group II Credit Enhancement Percentage.
Group II Delinquency Trigger Event. With respect to a Distribution Date on or after the Group II Stepdown Date, the Rolling Sixty Day Delinquency Rate for the outstanding Mortgage Loans in Aggregate Loan Group II equals or exceeds equals or exceeds the product of (i) (a) 23.75%, with respect to any Distribution Date prior to the Distribution Date in March 2011 or (b) 27.70%, with respect to any Distribution Date on or after the Distribution Date in March 2011, and (ii) the Group II Senior Enhancement Percentage for such Distribution Date.
Group II Delinquency Trigger Event. With respect to any Distribution Date, the circumstances in which the quotient (expressed as a percentage) of (x) the rolling three month average of the aggregate unpaid principal balance of Group II 60+ Day Delinquent Mortgage Loans, divided by (y) the aggregate unpaid principal balance of the Group II Mortgage Loans, as of the last day of the related Due Period, equals or exceeds 40.00% of the prior period's Group II Senior Enhancement Percentage.