Group IV Subordinate Prepayment Percentage definition

Group IV Subordinate Prepayment Percentage. With respect to the Group IV Mortgage Loans, on any Distribution Date, 100% minus the Group IV Senior Prepayment Percentage, except that on any Distribution Date after the Current Principal Amounts of the Group IV Senior Certificates have each been reduced to zero, if (a) the weighted average of the Subordinate Percentages on such Distribution Date equals or exceeds two times the initial weighted average of the Subordinate Percentages and (b) the aggregate Scheduled Principal Balance of the Mortgage Loans delinquent 60 days or more (including for this purpose any such Mortgage Loans in foreclosure and Mortgage Loans with respect to which the related Mortgaged Property has been acquired by the Trust), averaged over the last six months, as a percentage of the sum of the aggregate Current Principal Amount of the Subordinate Certificates does not exceed 100%, the Group IV Subordinate Prepayment Percentage will equal 100%. If the test set forth in the preceding sentence is not satisfied on any Distribution Date after the Current Principal Amount of the Group IV Senior Certificates have each been reduced to zero, then the Group IV Subordinate Prepayment Percentage will equal zero for such Distribution Date.
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Group IV Subordinate Prepayment Percentage. For 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 Certificates has been reduced to zero, then the Group IV Subordinate Prepayment Percentage shall equal 100%.
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Group IV Subordinate Prepayment Percentage. On any Distribution Date for Loan Group IV, 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%.
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More Definitions of Group IV Subordinate Prepayment Percentage

Group IV Subordinate Prepayment Percentage. With respect to the Group I/IV Subordinate Certificates and any Distribution Date, a percentage equal to 100% minus the Group IV Senior Prepayment Percentage.
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Group IV Subordinate Prepayment Percentage. For any Distribution Date, the excess of 100% over the Group IV Senior Prepayment Percentage for such Distribution Date; provided, however, that if the Class IV-A-1 Principal Balance has been reduced to zero, then the Group IV Subordinate Prepayment Percentage shall equal 100%. 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.
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Related to Group IV Subordinate Prepayment Percentage

  • Subordinate Prepayment Percentage As to any Distribution Date and Loan Group, 100% minus the Senior Prepayment Percentage for such Loan Group for such Distribution Date.

  • 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.

  • Senior Prepayment Percentage For any Distribution Date during the five years beginning on the first Distribution Date, 100%. The Senior Prepayment Percentage for any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date will, except as provided herein, be as follows: for any Distribution Date in the first year thereafter, the Senior Percentage plus 70% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the second year thereafter, the Senior Percentage plus 60% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the third year thereafter, the Senior Percentage plus 40% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the fourth year thereafter, the Senior Percentage plus 20% of the Subordinated Percentage for such Distribution Date; and for any Distribution Date thereafter, the Senior Percentage for such Distribution Date (unless on any Distribution Date the Senior Percentage exceeds the initial Senior Percentage, in which case the Senior Prepayment Percentage for such Distribution Date will once again equal 100%). Notwithstanding the foregoing, no decrease in the Senior Prepayment Percentage will occur unless both of the Senior Step Down Conditions are satisfied.

  • Prepayment Percentage As of the Closing Date, approximately 0%, and thereafter, with respect to any Distribution Date, the excess of 100% over the Senior Prepayment Percentage.

  • Aggregate Subordinate Percentage As to any Distribution Date, the percentage equivalent of a fraction the numerator of which is the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates and the denominator of which is the Pool Balance for such Distribution Date.

  • Applicable Prepayment Percentage means, at any time, 75%; provided that, if at any time the Consolidated First Lien Net Leverage Ratio as of the last day of the fiscal year for which the Applicable Prepayment Percentage is calculated (as set forth in an officer’s certificate delivered pursuant to Section 9.01(e) for such fiscal year) is (i) less than or equal to 2.75:1.00 but greater than 2.25:1.00, the Applicable Prepayment Percentage shall instead be 50%, (ii) less than or equal to 2.25:1.00 but greater than 1.75:1.00, the Applicable Prepayment Percentage shall instead be 25% and (iii) less than or equal to 1.75:1.00, the Applicable Prepayment Percentage shall instead be 0%.

  • Subordinate Percentage As of any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, any Loan Group, 100% minus the related Senior Percentage as of such Distribution Date.

  • 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.

  • Subordinate Principal Prepayments Distribution Amount For any Distribution Date, the Subordinate Prepayment Percentage of the Principal Prepayment Amount.

  • Net Aggregate Prepayment Interest Shortfall With respect to any Distribution Date, the amount, if any, by which (a) the aggregate of all Prepayment Interest Shortfalls incurred in connection with the receipt of Principal Prepayments on the Mortgage Loans during the related Due Period, exceeds (b) the aggregate amount deposited by the Master Servicer in the Certificate Account for such Distribution Date pursuant to Section 3.19 in connection with such Prepayment Interest Shortfalls.