Group II Subordinated Trigger Event definition

Group II Subordinated Trigger Event. With respect to Group II, any Distribution Date after the Group II Stepdown Date on which:
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Group II Subordinated Trigger Event. A Group II Subordinated Trigger Event has occurred with respect to a Payment Date if both of the following tests are failed on such Payment Date: A Group II Cumulative Loss Test is failed with respect to a Payment Date if the Cumulative Loss Percentage with respect to Group II equals or exceeds the percentage set out for the corresponding Payment Date below: Payment Dates Cumulative Loss Percentage ------------- -------------------------- October 1997 - September 1999 1.75% October 1999 - September 2000 2.10% October 2000 - September 2001 3.50% October 2001 - September 2002 4.40% October 2002 - September 2003 4.80% October 2003 - September 2004 5.20% October 2004 - September 2005 5.60% A Group II Delinquency Test is failed with respect to a Payment Date if the amount of 60+ Day Delinquent Loans, with respect to Group II as a percentage of the aggregate outstanding Loan Balance of Group II equals or exceeds the percentage set out for the corresponding Payment Date below: Payment Dates 60+ Day Delinquency Percentage ------------- ------------------------------ October 1999 - September 2001 4.00% October 2001 - September 2003 5.50% October 2003 - September 2005 8.00%
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Group II Subordinated Trigger Event. A Group II Subordinated Trigger Event has occurred with respect to a Payment Date if both of the following tests are failed on such Payment Date: A Group II Cumulative Loss Test is failed with respect to a Payment Date if the Cumulative Loss Percentage with respect to Group II equals or exceeds the percentage set out for the corresponding Payment Date below: Payment Dates Cumulative Loss Percentage ------------- --------------------------
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More Definitions of Group II Subordinated Trigger Event

Group II Subordinated Trigger Event. A Group II Subordinated Trigger Event has occurred with respect to a Payment Date if both of the following tests are failed on such Payment Date: A Group II Cumulative Loss Test is failed with respect to a Payment Date if the Cumulative Loss Percentage with respect to Group II equals or exceeds the percentage set out for the corresponding Payment Date below: Payment Dates Cumulative Loss Percentage ------------- -------------------------- July 2000 - June 2001 2.10% July 2001 - June 2002 3.50% July 2002 - June 2003 4.40% July 2003 - June 2004 4.80% July 2004 - June 2005 5.20% July 2005 - June 2006 5.60% A Group II Delinquency Test is failed with respect to a Payment Date if the amount of 60+ Day Delinquent Loans, with respect to Group II as a percentage of the aggregate outstanding Loan Balance of Group II equals or exceeds the percentage set out for the corresponding Payment Date below:
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Group II Subordinated Trigger Event. With respect to to Group I, any Distribution Date after the Group I Group II, any Distribution Date after the Group II Stepdown Date on which: Stepdown Date on which:
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Related to Group II Subordinated Trigger Event

  • 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.

  • Group II Subordinate Percentage For any Distribution Date, the excess of 100% over the Group II Senior Percentage for such date.

  • Group I Subordinate Percentage For any Distribution Date, the excess of 100% over the Group I Senior Percentage for such date.

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

  • Derivative Provider Trigger Event means (i) an Event of Default with respect to which Party A is a Defaulting Party, (ii) a Termination Event with respect to which Party A is the sole Affected Party or (iii) an Additional Termination Event with respect to which Party A is the sole Affected Party.

  • Group II Senior Principal Distribution Amount As to any Distribution Date, the sum of (i) the Group II Senior Percentage of the Principal Payment Amount for Loan Group II, (ii) the applicable Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group II, and (iii) the Group II Senior Liquidation Amount.

  • REMIC II Subordinated Balance Ratio The ratio among the Uncertificated Balances of each REMIC II Regular Interest ending with the designation “SUB,”, equal to the ratio between, with respect to each such REMIC II Regular Interest, the excess of (x) the aggregate Stated Principal Balance of the Group I Mortgage Loans or Group II Mortgage Loans, as applicable over (y) the current Certificate Principal Balance of related Class A Certificates.

  • Class Subordination Percentage With respect to any Distribution Date and each Class of Subordinated Certificates, the quotient (expressed as a percentage) of (a) the Class Certificate Balance of such Class of Certificates immediately prior to such Distribution Date divided by (b) the aggregate of the Class Certificate Balances immediately prior to such Distribution Date of all Classes of Certificates.

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

  • Senior Subordinate Certificates The Class B1, Class B2 and Class B3 Certificates.

  • Group III Senior Principal Distribution Amount As to any Distribution Date, the sum of (i) the Group III Senior Percentage of the Principal Payment Amount for Loan Group III, (ii) the applicable Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group III, and (iii) the Group III Senior Liquidation Amount.

  • Group Subordinate Amount For a Mortgage Pool and any Distribution Date; the excess of (a) the Pool Principal Balance of such Mortgage Pool for the immediately preceding Distribution Date, over (b) the aggregate Class Certificate Balance of the Senior Certificates of the related Certificate Group immediately prior to that Distribution Date. Index: Not applicable.

  • Available Subordinated Amount if there is a Subordinate Class with respect to Class A, shall mean, on a Distribution Date, the sum of

  • Group II Senior Certificates As specified in the Preliminary Statement.

  • Junior Subordinate Certificates The Class B-4, Class B-5 and Class B-6 Certificates.

  • REMIC I Subordinated Balance Ratio The ratio among the Uncertificated Principal Balances of each of the REMIC I Regular Interests ending with the designation "A," equal to the ratio among, with respect to each such REMIC I Regular Interest, the excess of (x) the aggregate Scheduled Principal Balance of the Mortgage Loans in the related Loan Group over (y) the Current Principal Amount of the Senior Certificates in the related Group.

  • Specified Subordinated Amount As applicable, the Group I Specified Subordinated Amount or the Group II Specified Subordinated Amount.

  • 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%.

  • Group I Senior Principal Distribution Amount For any Distribution Date, an amount equal to the sum of (a) the Group I Senior Percentage of the Principal Payment Amount for Loan Group I, (b) the Group I Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group I and (c) the Group I Senior Liquidation Amount.

  • Swap Counterparty Trigger Event A Swap Counterparty Trigger Event shall have occurred if any of a Swap Default with respect to which the Swap Counterparty is a Defaulting Party, a Termination Event with respect to which the Swap Counterparty is the sole Affected Party or an Additional Termination Event with respect to which the Swap Counterparty is the sole Affected Party has occurred.

  • Group I Senior Certificates As specified in the Preliminary Statement.

  • Initial Subordinate Class Percentage As defined in the Series Supplement.

  • 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.

  • Original Subordinated Percentage The Subordinated Percentage as of the Cut-Off Date, as set forth in Section 11.07.

  • Non-Lead Securitization Subordinate Class Representative means the holders of the majority of the class of securities issued in a Non-Lead Securitization designated as the “controlling class” pursuant to the related Non-Lead Securitization Servicing Agreement or their duly appointed representative; provided that if 50% or more of the class of securities issued in any Non-Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Noteholder” is held by the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower, no person shall be entitled to exercise the rights of the related Non-Lead Securitization Subordinate Class Representative.

  • Senior Specified Enhancement Percentage As of any date of determination, 38.00%.