Group II Senior Percentage. For any Distribution Date, the lesser of (i) 100% and (ii) the aggregate Class Principal Balance of the Group II-A and Residual Certificates divided by the aggregate Class Principal Balance of the Group II Loans (exclusive of the Class II-P Fraction thereof, with respect to any Class II-P Mortgage Loan), in each case immediately before such Distribution Date.
Group II Senior Percentage. As of each Distribution Date, the lesser of 100% and a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of the Group II Certificates immediately prior to such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) in Loan Group II immediately prior to such Distribution Date.
Group II Senior Percentage. As to any Distribution Date, the percentage equivalent of a fraction the numerator of which is the Class Principal Balance of the Class II-A-1 Certificates immediately prior to such Distribution Date and the denominator of which is the aggregate of the Stated Principal Balances of the Mortgage Loans in Loan Group II, as of the first day of the related Collection Period (excluding any such Mortgage Loans that were subject to a Payoff, the principal of which was distributed on the Distribution Date preceeding the current Distribution Date); provided, however, in no event will the Group II Senior Percentage exceed 100%.
Examples of Group II Senior Percentage in a sentence
On any Distribution Date, 100% minus the Group II Senior Percentage.
Group II Senior Percentage for such Distribution Date: ............................................
With respect to the Group II Mortgage Loans, Excess Losses on a Class IO Mortgage Loan will be allocated on any Distribution Date by allocating the Group II Senior Percentage of the Excess Loss to the Class A-2 Certificates and the Group II Subordinate Percentage of the Excess Loss to the Subordinate Certificates.
Group II Senior Percentage for such Distribution Date: ............
With respect to the Group II-B Mortgage Loans, Excess Losses will be allocated on any Distribution Date by allocating the related Group II Senior Percentage of the Excess Loss to the Class AV-2 Certificates and the Group II-B Subordinate Percentage of the Excess Loss to the Group II Subordinate Certificates on a PRO RATA basis.
More Definitions of Group II Senior Percentage
Group II Senior Percentage. With respect to Loan Group II, initially 92.75%. With respect to any Distribution Date and Loan Group II, the lesser of (i) 100% and (ii) the percentage obtained by dividing the aggregate Certificate Principal Balance of the Senior Certificates in such Certificate Group immediately preceding such Distribution Date by the aggregate Stated Principal Balance of the Group II Mortgage Loans as of the beginning of the related Due Period.
Group II Senior Percentage. With respect to any Distribution Date and the Class AV-2 Certificates, the lesser of (a) 100% and (b) a fraction, expressed as a percentage, the numerator of which is the excess, if any, of the aggregate Certificate Principal Balance of the Class AV-2 Certificates for such Distribution Date over the aggregate amount, if any, payable to the Holders of the Class AV-2 Certificates on such date pursuant to clause (d) of the definition of "Group I/IV Senior Principal Distribution Amount," and the denominator of which is the sum of (i) the Scheduled Principal Balance of each of the Group II Mortgage Loans, plus (ii) the Scheduled Principal Balance of each of the REO Properties in Loan Group II, in each case before reduction for any Realized Losses on such Distribution Date. Notwithstanding the foregoing, on any Cross-Collateralization Date on which the Group II Mortgage Loans exceed the Certificate Principal Balance of the Class AV-2 Certificates, the Group II Senior Percentage will equal the lesser of (i) 100% and (ii) the sum of the Certificate Principal Balance of the Class AV-2 Certificates immediately prior to such Distribution Date plus the Overcollateralized Amount divided by the Scheduled Principal Balances of the Group II Mortgage Loans immediately prior to such Distribution Date. On any Distribution Date after the reduction of the Certificate Principal Balance of the Class AV-1 Certificates, the Class AV-3 Certificates and the Class AV-4 Certificates to zero, the Group II Senior Percentage will be a percentage equal to the Certificate Principal Balance of the Class AV-2 Certificates immediately prior to such Distribution Date divided by the Scheduled Principal Balances of the Mortgage Loans immediately prior to such Distribution Date.
Group II Senior Percentage. As of the Closing Date, approximately 96.85%, and thereafter, with respect to any Distribution Date, the sum of the Class Principal Balances of the Class IIA Certificates divided by the aggregate Scheduled Principal Balance of all of the Group II Loans, in each case immediately prior to such Distribution Date.
Group II Senior Percentage. For any Distribution Date, the lesser of (i) 100% and (ii) the aggregate Class Principal Balance of the Group II-A Certificates divided by the aggregate Principal Balance of the Group II Loans, in each case immediately before such Distribution Date. Group II Senior Prepayment Percentage: See the definition of “Group I Senior Prepayment Percentage, Group II Senior Prepayment Percentage, Group III Senior Prepayment Percentage, Group IV Senior Prepayment Percentage, Group V Senior Prepayment Percentage, Group VI Senior Prepayment Percentage or Group VII Senior Prepayment Percentage.”
Group II Senior Percentage. The Group II-1 Senior Percentage, Group II-2 Senior Percentage, Group II-3 Senior Percentage or Group II-4 Senior Percentage, as applicable.
Group II Senior Percentage. With respect to any Distribution Date, the lesser of (i) 100% and (ii) the aggregate Class Principal Balance of the Group II-A and Residual Certificates divided by the aggregate Principal Balance of the Group II Loans (less the Class II-P Fraction of each Class II-P Mortgage Loan), in each case immediately prior to the Distribution Date. Group II Senior Prepayment Percentage, Group III Senior Prepayment Percentage or Group IV Senior Prepayment Percentage: (i) On any Distribution Date occurring before the Distribution Date in the month of the fifth anniversary of the first Distribution Date, each of the Group II Senior Prepayment Percentage, the Group III Senior Prepayment Percentage and the Group IV Senior Prepayment Percentage shall equal 100%; (ii) on any other Distribution Date on which the Group II Senior Percentage for such Distribution Date exceeds the Group II Senior Percentage as of the Closing Date, the Group III Senior Percentage for such Distribution Date exceeds the Group III Senior Percentage as of the Closing Date or the Group IV Senior Percentage for such Distribution Date exceeds the Group IV Senior Percentage as of the Closing Date, each of the Group II Senior Prepayment Percentage, the Group III Senior Prepayment Percentage and the Group IV Senior Prepayment Percentage shall equal 100%; and (iii) on any other Distribution Date in each of the months of the fifth anniversary of the first Distribution Date and thereafter, each of the Group II Senior Prepayment Percentage, the Group III Senior Prepayment Percentage and the Group IV Senior Prepayment Percentage shall equal 100%, unless the following tests specified in clauses (a) through (f) are met with respect to each of Loan Group II, Loan Group III and Loan Group IV:
Group II Senior Percentage. As of the Closing Date, approximately 97.74%, and thereafter, with respect to any Distribution Date, the sum of the Class Principal Balances of the Class IIA Certificates (other than the Class IIA-P Certificates) and Class R Certificate divided by the aggregate Scheduled Principal Balance of all of the Group II Loans, in each case immediately prior to such Distribution Date (exclusive of the Group II Discount Fraction of the Group II Discount Loans).