Group IV Senior Percentage definition

Group IV 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 IV 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 IV immediately prior to such Distribution Date.
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Group IV Senior Percentage. For any Distribution Date, the lesser of (i) 100% and (ii) the aggregate Class Principal Balance of the Group IV-A Certificates divided by the aggregate Principal Balance of the Group IV Loans (exclusive of the Class IV-P Fraction thereof with respect to any Class IV-P Mortgage Loan), in each case immediately before such Distribution Date.
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Group IV 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 IV-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 IV, 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 IV Senior Percentage exceed 100%.
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Examples of Group IV Senior Percentage in a sentence

  • Group IV Senior Percentage + 40% of Group IV Subordinate Percentage January 2010 through December 2010..........

  • On any Distribution Date, 100% minus the Group IV Senior Percentage.

  • Group IV Senior Percentage + 60% of Group IV Subordinate Percentage January 2009 through December 2009..........

  • Group IV Senior Percentage + 70% of Group IV Subordinate Percentage January 2008 through December 2008..........

  • Group IV Senior Percentage + 20% of Group IV Subordinate Percentage January 2011 and thereafter..............


More Definitions of Group IV Senior Percentage

Group IV Senior Percentage. With respect to any Distribution Date and the Class A-4 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 A-4 Certificates for such Distribution Date over the aggregate amount, if any, payable to the Holders of the Class A-4 Certificates on such date pursuant to clause (d) of the definition of "Senior Principal Distribution Amount," and the denominator of which is the sum of (i) the Scheduled Principal Balance of each of the Group IV Mortgage Loans, plus (ii) the Scheduled Principal Balance of each of the REO Properties in Loan Group IV, 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 IV Mortgage Loans exceed the Certificate Principal Balance of the Class A-4 Certificates, the Group IV Senior Percentage will equal the lesser of (i) 100% and (ii) the sum of the Certificate Principal Balance of the Class A-4 Certificates immediately prior to such Distribution Date plus the Overcollateralized Amount divided by the Scheduled Principal Balances of the Group IV Mortgage Loans immediately prior to such Distribution Date. On any Distribution Date after the reduction of the Certificate Principal Balance of the Class A-1 Certificates, the Class A-2 Certificates and the Class A-3 Certificates to zero, the Group IV Senior Percentage will be a percentage equal to the Certificate Principal Balance of the Class A-4 Certificates immediately prior to such Distribution Date divided by the Scheduled Principal Balances of the Mortgage Loans immediately prior to such Distribution Date.
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Group IV Senior Percentage. For any Distribution Date, the lesser of (i) 100% and (ii) the Class Principal Balance of the Class IV-A Certificates divided by the aggregate Principal Balance of the Group IV Loans, in each case immediately before such Distribution Date. Group IV 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."
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Group IV Senior Percentage. As of the Closing Date will be approximately 96.84% and, thereafter, with respect to any Distribution Date the sum of the class Principal Balances of the Class IVA Certificates (other than Component 1A-P-2 of the Class 1A-P Certificates) and Component Principal Balance of Component 1A-7-2 of the Class 1A-7 Certificates divided by the aggregate Scheduled Principal Balance of all Group IV Loans, in each case, immediately preceding such Distribution Date (exclusive of the Group IV Discount Fraction of the Group IV Discount Loans).
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Group IV Senior Percentage. With respect to any Distribution Date and the Class A Certificates in Certificate Group IV, 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 A Certificates in Certificate Group IV for such Distribution Date over the aggregate amount, if any, payable to the Holders of the Class A Certificates in Certificate Group IV on such date pursuant to clause (d) of the definition of "Senior Principal Distribution Amount," and the denominator of which is the sum of (i) the aggregate of the Non-Class PO Percentages of the Scheduled Principal Balances of the Group IV Mortgage Loans, plus (ii) the aggregate of the Non- Class PO Percentages of the Scheduled Principal Balances of the REO Properties in Loan Group IV, in each case before reduction for any Realized Losses on such Distribution Date.
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Group IV Senior Percentage. For any Distribution Date, the lesser of (i) 100% and (ii) the aggregate Class Principal Balance of the Group IV-A Certificates divided by the aggregate Principal Balance of the Group IV Loans (exclusive of the Class IV-P Fraction thereof with respect to any Class IV-P Mortgage Loan), in each case immediately before such Distribution Date. Group IV Senior Prepayment Percentage or Group V Senior Prepayment Percentage: For any Distribution Date, each of the Group IV Senior Prepayment Percentage and the Group V Senior Prepayment Percentage shall equal 100%, unless (i) the Group IV Senior Percentage for such Distribution Date is less than or equal to the Group IV Senior Percentage as of the Closing Date and the Group V Senior Percentage for such Distribution Date is less than or equal to the Group V Senior Percentage as of the Closing Date, (ii) such Distribution Date occurs on or after the fifth anniversary of the first Distribution Date and (iii) the following tests specified in clauses (a) through (d) are met with respect to each of Loan Group IV and Loan Group V:
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Group IV Senior Percentage. With respect to any Distribution Date, the lesser of (i) 100% and (ii) the aggregate Class Principal Balance of the Group IV-A and Residual Certificates divided by the aggregate Principal Balance of the Group IV Loans, in each case immediately prior to the Distribution Date. Group IV Senior Prepayment Percentage: See the definition of "Group I Senior Prepayment Percentage." Group IV Senior Principal Distribution Amount: For any Distribution Date, an amount equal to the sum of (a) the Group IV Senior Percentage of the Principal Payment Amount for Loan Group IV, (b) the Group IV Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group IV and (c) the Group IV Senior Liquidation Amount. Group IV Subordinate Balance: For any date of determination, an amount equal to the then outstanding aggregate Principal Balance of the Group IV Loans reduced by sum of (i) the aggregate Class Principal Balance of the Group IV-A and Residual Certificates and (ii) the amount by which $2999.97 exceeds the amounts on deposit in the Rounding Accounts. Group IV Subordinate Percentage: With respect to any Distribution Date, the excess of 100% over the Group IV Senior Percentage for such date. Group IV Subordinate Prepayment Percentage: On any Distribution Date, the excess of 100% over the Group IV Senior Prepayment Percentage for such Distribution Date; provided, however, that if the aggregate Class Principal Balance of the Group IV-A and Residual Certificates has been reduced to zero, then the Group IV Subordinate Prepayment Percentage shall equal 100%. Group IV-A Certificates: The Class IV-A-1, Class IV-A-2, Class IV-A- 3, Class IV-A-4, Class IV-A-5, Class IV-A-6, Class IV-A-7, Class IV-A-8 and Class IV-A-9 Certificates. Group IV-A-L Regular Interests: The Class IV-A-1-L, Class IV-A-2-L, Class IV-A-3-L, Class IV-A-4-L, Class IV-A-5-L, Class IV-A-6-L, Class IV- A-7-L, Class IV-A-8-L and Class IV-A-9-L Regular Interests. Indirect DTC Participants: Entities such as banks, brokers, dealers or trust companies, that clear through or maintain a custodial relationship with a DTC Participant, either directly or indirectly. Insurance Proceeds: Amounts paid or payable by the insurer under any Primary Insurance Policy or any other insurance policy (including any replacement policy permitted under this Agreement) covering any Mortgage Loan or Mortgaged Property, including, without limitation, any hazard insurance policy required pursuant to Section 3.07, any title insuranc...
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Related to Group IV Senior Percentage

  • Group I 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 I 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 I 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 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.

  • Senior Percentage As of any 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 Senior Certificates (other than the Class A-P 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) (other than the related Discount Fraction of each Discount Mortgage Loan) immediately prior to such Distribution Date.

  • Aggregate Senior Percentage As to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the aggregate of the Class Principal Amounts of the Class 1-A1, Class 1-A2, Class 1-AR, Class 2-A1, Class 2-A2, Class 3-A1, Class 3-A2, Class 4-A1, Class 4-A2, Class 5-A1 and Class 5-A2 Certificates and the denominator of which is the Aggregate Stated Principal Balance for such date, but in no event greater than 100%.

  • Group II Allocation Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is (i) the Group II Principal Remittance Amount for such Distribution Date, and the denominator of which is (ii) the Principal Remittance Amount for such Distribution Date.

  • Investor Percentage means for any Monthly Period, (a) with respect to Finance Charge Receivables and Default Amounts at any time and Principal Receivables during the Revolving Period, the Floating Investor Percentage and (b) with respect to Principal Receivables during the Controlled Accumulation Period or the Rapid Amortization Period, the Fixed Investor Percentage.

  • Group I Allocation Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is (i) the Group I Principal Remittance Amount for such Distribution Date, and the denominator of which is (ii) the Principal Remittance Amount for such Distribution Date.

  • Class B-6 Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Percentage by (ii) a fraction, the numerator of which is the Class B-6 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-6 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-6 Percentage for such Distribution Date will be zero.

  • Group II The pool of Mortgage Loans identified in the related Schedules of Mortgage Loans as having been assigned to Group II, including any Qualified Replacement Mortgages delivered in replacement thereof and each Subsequent Mortgage Loan delivered to the Trust for inclusion therein.

  • Group III All applicants for employment who have had two (2) or more years' experience in the trade, are residents of the geographical area constituting the normal construction labor market area, and who have been employed in the normal construction labor market area for at least six (6) months in the last two and one-half (2½) years in the geographical area covered by the collective bargaining agreement.

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

  • Class B-4 Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Percentage by (ii) a fraction, the numerator of which is the Class B-4 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-4 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-4 Percentage for such Distribution Date will be zero.

  • 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.

  • Guarantor Percentage has the meaning assigned to such term in Section 10.10.

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

  • Group 2 Senior Principal Distribution Amount For any Distribution Date, an amount equal to the sum of (a) the Group 2 Senior Percentage of the Principal Payment Amount for Loan Group 2, (b) the Group 2 Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group 2 and (c) the Group 2 Senior Liquidation Amount.

  • Fixed Investor Percentage means, with respect to any Monthly Period, the percentage equivalent of a fraction, the numerator of which is the Investor Interest as of the close of business on the last day of the Revolving Period and the denominator of which is the greater of (a) the aggregate amount of Principal Receivables in the Trust determined as of the close of business on the last day of the prior Monthly Period and (b) the sum of the numerators used to calculate the Investor Percentages (as such term is defined in the Agreement) for allocations with respect to Principal Receivables for all outstanding Series on such date of determination; provided, however, that with respect to any Monthly Period in which an Addition Date occurs or in which a Removal Date occurs on which, if any Series has been paid in full, Principal Receivables in an aggregate amount approximately equal to the initial investor interest of such Series are removed from the Trust, the denominator determined pursuant to clause (a) hereof shall be (i) the aggregate amount of Principal Receivables in the Trust as of the close of business on the last day of the prior Monthly Period for the period from and including the first day of such Monthly Period to but excluding the related Addition Date or Removal Date and (ii) the aggregate amount of Principal Receivables in the Trust as of the beginning of the day on the related Addition Date or Removal Date after adjusting for the aggregate amount of Principal Receivables added to or removed from the Trust on the related Addition Date or Removal Date, for the period from and including the related Addition Date or Removal Date to and including the last day of such Monthly Period.

  • Group I means Series 2022-2 and each other Series specified in the related Supplement to be included in Group I.

  • Class A Principal Percentage means, with respect to any Monthly Period (i) during the Revolving Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class A Invested Amount as of the last day of the immediately preceding Monthly Period and the denominator of which is the Invested Amount as of such day and (ii) during the Controlled Accumulation Period, the Early Amortization Period or any Partial Amortization Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class A Invested Amount as of the close of business on the date on which the Revolving Period shall have terminated and the denominator of which is the Invested Amount as of the close of business on the date on which the Revolving Period shall have terminated; provided, however, that with respect to the first Monthly Period, the Class A Principal Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class A Initial Invested Amount and denominator of which is the Initial Invested Amount.

  • Class A Percentage As to any Distribution Date occurring on or prior to the Cross-Over Date, the lesser of (i) 100% and (ii) the percentage obtained by dividing the Class A Non-PO Principal Balance (determined as of the Determination Date preceding such Distribution Date) by the Pool Balance (Non-PO Portion). As to any Distribution Date occurring subsequent to the Cross-Over Date, 100% or such lesser percentage which will cause the Class A Non-PO Principal Balance to decline to zero following the distribution made on such Distribution Date.

  • Principal Allocation Percentage means, with respect to any day during a Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is (a) during the Revolving Period, the Series Adjusted Invested Amount for Series 2022-2 as of the last day of the immediately preceding Monthly Period (or, in the case of the first Monthly Period, the Initial Invested Amount) and (b) during the Controlled Accumulation Period, the Early Amortization Period or any Partial Amortization Period, the Series Adjusted Invested Amount for Series 2022-2 as of the close of business on the date on which the Revolving Period shall have terminated and the denominator of which is the product of (x) the sum of (i) the total amount of Principal Receivables in the Trust as of the last day of the immediately preceding Monthly Period (or with respect to the first Monthly Period, the total amount of Principal Receivables in the Trust as of the Closing Date) and (ii) the principal amount on deposit in the Special Funding Account as of such last day (or with respect to the first Monthly Period, the Closing Date) and (y) the Series 2022-2 Allocation Percentage as of the last day of the immediately preceding Monthly Period; provided, however, that with respect to any Monthly Period in which an Addition Date for an Aggregate Addition or a Removal Date occurs the amount in (x)(i) above shall be (1) the aggregate amount of Principal Receivables in the Trust at the end of the day on the last day of the prior Monthly Period for the period from and including the first day of such Monthly Period to but excluding the related Addition Date or Removal Date and (2) the aggregate amount of Principal Receivables in the Trust at the end of the day on the related Addition Date or Removal Date for the period from and including the related Addition Date or Removal Date to and including the last day of such Monthly Period; and provided further, that if after the commencement of the Controlled Accumulation Period a Pay-Out Event occurs with respect to another Series that was designated in the Supplement therefor as a Series that is a “Paired Series” with respect to Series 2022-2, the Transferor may, by written notice delivered to the Trustee and the Servicer, designate a different numerator for the foregoing fraction, provided that (x) such numerator is not less than the Adjusted Invested Amount as of the last day of the revolving period for such Paired Series, (y) the Transferor shall have received written notice from each Rating Agency that the Rating Agency Condition has been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee and (z) the Transferor shall have delivered to the Trustee an Officer’s Certificate of such Transferor to the effect that, based on the facts known to such officer at such time, in the reasonable belief of such Transferor, such designation will not cause a Pay-Out Event or an event that, after the giving of notice or the lapse of time, would constitute a Pay-Out Event, to occur with respect to Series 2022-2.

  • Group 1 Senior Principal Distribution Amount For any Distribution Date, an amount equal to the sum of (a) the Group 1 Senior Percentage of the Principal Payment Amount for Loan Group 1, (b) the Group 1 Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group 1 and (c) the Group 1 Senior Liquidation Amount.

  • Asset Percentage has the meaning specified in Section 2.05(b)(ii).

  • Senior Enhancement Percentage With respect to any Distribution Date, the percentage obtained by dividing (x) the sum of (i) the aggregate Class Certificate Balance of the Subordinated Certificates and (ii) the Subordinated Amount (in each case after taking into account the distributions of the Principal Distribution Amount for such Distribution Date) by (y) the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date.

  • Class B Floating Percentage means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Class B Adjusted Invested Amount as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal to the Adjusted Invested Amount as of the close of business on such day; provided, however, that with respect to the first Monthly Period, the Class B Floating Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class B Initial Invested Amount and the denominator of which is the Initial Invested Amount.

  • Class B-2 Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Percentage by (ii) a fraction, the numerator of which is the Class B-2 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-2 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-2 Percentage for such Distribution Date will be zero.