Group II Trigger Event. With respect to the Group II Certificates after the Group II Stepdown Date, a Distribution Date on which the product of (A) two and one-half (2.50) and (B) the quotient of (i) the aggregate Stated Principal Balance of all Group II Mortgage Loans which are 60 or more days Delinquent (including, for the purposes of this calculation, Group II Mortgage Loans in foreclosure and REO Properties) and (ii) the Stated Principal Balance of the Group II Mortgage Loans as of the preceding Servicer Advance Date, equals or exceeds the Group II Required Percentage.
Group II Trigger Event. With respect to the Group II Certificates after the Group II Stepdown Date, a Distribution Date on which either (a) the product of (A) two and one-half (2.50) and (B) the quotient of (i) the aggregate Stated Principal Balance of all Group II Mortgage Loans which are 60 or more days Delinquent (including, for the purposes of this calculation, Group II Mortgage Loans in foreclosure and REO Properties) and (ii) the Stated Principal Balance of the Group II Mortgage Loans as of the preceding Servicer Advance Date, exceeds the Group II Required Percentage or (b) the quotient (expressed as a percentage) of (A) the aggregate Realized Losses incurred with respect to the applicable loan group from the Cut-off Date through the last day of the calendar month preceding such Distribution Date and (B) the aggregate stated Principal Balance of the Group II Mortgage Loans as of the Cut-off Date, exceeds the Group II Required Loss Percentage.
Group II Trigger Event. A Group II Trigger Event is in effect with respect to any Distribution Date on or after the Stepdown Date if either (a) the product of 1.98 and the Sixty-Plus Delinquency Percentage for the Group II Loans for that Distribution Date equals or exceeds the Group II Senior Enhancement Percentage for that Distribution Date or (b) on or after the Distribution Date in January 2007, the aggregate amount of Realized Losses on the Group II Loans as a percentage of the Group II Cut-off Date Balance exceeds the following amounts:
Examples of Group II Trigger Event in a sentence
If a Group II Trigger Event is in effect, the Overcollateralization Target Amount will equal the Target Amount for the immediately preceding period.
Group II: An initial overcollateralization of 0% building to [2.00%] of the original principal balance of Group II, stepping down on the Stepdown Date, provided a Group II Trigger Event is not in effect, to [4.00%] of the then current principal balance of Group II, subject to the Overcollateralization Floor.
GROUP II TRIGGER EVENT: A "Group II Trigger Event" is in effect for the Group II Certificates if on that Payment Date: (1) The three-month rolling average percentage of the Group II loans that are 60 days or more delinquent in payment of principal and interest exceeds the product of (a) the Group II Senior Enhancement Percentage for the Certificates and (b) 35.00%; or (2) The Group II Cumulative Realized Losses Test is not satisfied.
However, if a Group II Trigger Event has occurred on the related Distribution Date, the Group II Targeted Overcollateralization Amount shall be equal to the Group II Targeted Overcollateralization Amount for the previous Distribution Date (after taking into account any distributions of principal made with respect to the Class BV-1, Class BV-2 and Class BV-3 Certificates pursuant to clauses 6), 7) and 8) of "Group II Priority of Payments" on the prior Distribution Date).
More Definitions of Group II Trigger Event
Group II Trigger Event. A Group II Trigger Event is in effect with respect to any Distribution Date if either (i) (A) with respect to any Distribution Date (other than the first Distribution Date), the three-month average (or two month-average in the case of the second Distribution Date) of the Group II Sixty-Plus Delinquency Percentage, as determined on that Distribution Date and the immediately preceding two Distribution Dates (or immediately preceding Distribution Date in the case of the second Distribution Date), equals or exceeds 40.00% of the Group II Senior Enhancement Percentage or (B) with respect to the first Distribution Date, the Group II Sixty-Plus Delinquency Percentage, as determined on that Distribution Date, equals or exceeds 40.00% of the Group II Senior Enhancement Percentage or (ii) the aggregate amount of Realized Losses on the Group II Loans as a percentage of the Group II Cut-off Date Balance exceeds the applicable amount set forth below:
Group II Trigger Event. With respect to Group II any Distribution Date after the Group I Stepdown Date, a and any Distribution Date after the Group II Stepdown Group I Trigger Event exists if two times the quotient of Date, a Group II Trigger Event exists if 2.5 times the (i) the Scheduled Principal Balances of all 60 or more quotient of (i) the Scheduled Principal Balances of all days Delinquent Mortgage Loans in Group I and (ii) the 60 or more days Delinquent Mortgage Loans in Group II Scheduled Principal Balances of Group I as of the and (ii) the Scheduled Principal Balances of Group II preceding Master Servicer Remittance Date equals or as of the preceding Master Servicer Remittance Date exceeds 27%. equals or exceeds 38%.
Group II Trigger Event. The occurrence of either a Group II Delinquency Test Violation or a Group II Cumulative Loss Test Violation.
Group II Trigger Event. A Group II Trigger Event has occurred with respect to a Payment Date if the percentage obtained by dividing (x) the principal amount of 60+ Day Delinquent Loans in Group II by (y) the aggregate outstanding Loan Balance of the Mortgage Loans in Group II as of the last day of the immediately preceding Remittance Period equals or exceeds 40% of the Group II Senior Enhancement Percentage.
Group II Trigger Event. A Group II Trigger Event has occurred with respect to a Distribution Date if either a Group II Cumulative Loss Trigger Event or a Group II Delinquency Trigger Event has occurred with respect to such Distribution Date.
Group II Trigger Event. With respect to any Distribution Date, a Group II Trigger Event exists if (i) a related Delinquency Event shall have occurred and be continuing or (ii) the aggregate amount of Realized Losses on the Group II Mortgage Loans since the Cut-off Date as a percentage of the aggregate Cut-off Date Principal Balance of the Group II Mortgage Loans exceeds the applicable percentages set forth below with respect to such Distribution Date: Distribution Date Percentage September 2009 through August 2010 3.50% with respect to September 2009, plus an additional 1/12th of the difference between 5.45% and 3.50% for each month thereafter September 2010 through August 2011 5.45% with respect to September 2010, plus an additional 1/12th of the difference between 7.05% and 5.45% for each month thereafter September 2011 through August 2012 7.05% with respect to September 2011, plus an additional 1/12th of the difference between 7.90% and 7.05% for each month thereafter September 2012 and thereafter 7.90%
Group II Trigger Event. With respect to Group II and any Distribution Date after the Group II Stepdown Date, a Group II Trigger Event exists if 2 times the quotient of: