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Group II Stepdown Date definition

Group II Stepdown Date. The later to occur of (i) the Distribution Date in [Month/Year] or (ii) the first Distribution Date on which (A) the Group II Class A Certificate Principal Balance (reduced by the Group II Principal Funds with respect to such Distribution Date) is less than or equal to (B) ___% of the Stated Principal Balances of the Group II Mortgage Loans plus the Pre-Funded Amount allocable to Loan Group II, in each case, as of such Distribution Date.
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Group II Stepdown Date. The earlier to occur of (I) the first Distribution Date following the Distribution Date for which the Certificate Principal Balance for each of the Class II-A Certificates have been reduced to zero, and (II) the later to occur of (a) the Distribution Date in May 2009 and (b) the first Distribution Date on which the Group II Current Specified Enhancement Percentage is greater than or equal to 57.20%.
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Group II Stepdown Date. The Distribution Date which is the later to occur of (i) the Distribution Date occurring in March 2005 and (ii) the first Distribution Date on which the Group II Overcollateralization Amount immediately prior to that Distribution Date is equal to or greater than 13.60% of the aggregate Stated Principal Balance of the Group II Loans as of the end of the preceding Due Period.
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Examples of Group II Stepdown Date in a sentence

  • Group II Stepdown Date: |X| The later to occur of (x) the Distribution Date in March 2005 and (y) the first Distribution Date on which the related overcollateralization amount immediately pr or to that Distribution Date is equal to or greater than 13.60% of the aggregate Stated Principal Balance of the Group II Mortgage Loans as of the end of the preceding due period.

  • Group II Required Overcollateralization Amount" means for any Payment Date (i) prior to the Group II Stepdown Date, an amount equal to 2.25% of the principal balance of the Group II loans as of the Cut-off Date plus amounts on deposit in the Group II Pre-Funding Account, and (ii) on and after the Group II Stepdown Date, an amount equal to 4.50% of the principal balance of the Group II loans as of the last day of the related due period, but not less than the Group II OC Floor.


More Definitions of Group II Stepdown Date

Group II Stepdown Date. The later to occur of (x) the Payment Date in July 2000 and (y) the first Group II Payment Date on which the Group II Senior Enhancement Percentage (after taking into account distributions of principal with respect to Group II on such Payment Date) is equal to or greater than the Group II Senior Specified Enhancement Percentage.
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Group II Stepdown Date. The later to occur of (a) the Distribution Date in January 2009 and (b) the first Distribution Date on which the Group II Current Specified Enhancement Percentage is greater than or equal to 65.00%.
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Group II Stepdown Date. The later of (a) the Payment Date in April 2008 and (b) the Payment Date on which the Pool Balance of the Group II Loans after applying payments received in the related Collection Period is less than 50% of the aggregate Cut-off Date Loan Balances of the Group II Loans.
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Group II Stepdown Date. With respect to Group II, the earlier to occur of:
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Group II Stepdown Date. The later to occur of (x) the 30th Payment Date from the Startup Day and (y) the date on which principal received on the Group II Certificates is equal to 50% of the aggregate principal balance of the Mortgage Loans in Group II as of the Startup Day has been received by the Trust.
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Group II Stepdown Date. The earlier to occur of (i) the first Distribution Date following the Distribution Date on which the aggregate Class Principal Amount of the Senior Certificates has been reduced to zero and (ii) the later to occur of (a) the Distribution Date occurring in April 2010 and (b) the first Distribution Date on which the Senior Enhancement Percentage (calculated for this purpose after giving effect to payments or other recoveries in respect of the Mortgage Loans during the related Collection Period but before giving effect to distributions on the Certificates on such Distribution Date) is greater than or equal to approximately 42.10%.
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Group II Stepdown Date. With respect to Group II, the the earlier to occur of (i) the later to occur of earlier to occur of (i) the later to occur of (A) the (A) the Distribution Date in July 2002 and (B) the Distribution Date in July 2002 and (B) the first first Distribution Date on which the Group I Class Distribution Date on which the Group II Class A A Certificate Principal Balance immediately prior Certificate Principal Balance immediately prior to such to such Distribution Date (less the Group I Distribution Date (less the Group II Principal Funds for Principal Funds for such Distribution Date) is less such Distribution Date) is less than or equal to 58.00% than or equal to 72.00% of the Scheduled Principal of the Scheduled Principal Balances of Group II and (ii) Balances of Group I and (ii) the Distribution Date the Distribution Date on which the Group II Class A on which the Group I Class A Certificate Principal Certificate Principal Balance has been reduced to zero. Balance has been reduced to zero. "Group I Subordinated Certificates": The Class "GROUP II SUBORDINATED CERTIFICATES": The Class MV-1, MF-1, Class MF-2, Class BF-1 and Class BF-1A Class MV-2, Class BV-1 and Class BV-1A Certificates. Certificates.
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