Master Servicer Termination Test. With respect to any Distribution Date, the Master Servicer Termination Test will be failed if the Cumulative Loss Percentage exceeds 4.00%.
Master Servicer Termination Test. With respect to any Distribution Date, a test which is satisfied if (x) the related Rolling Delinquency Percentage is less than 14.0%, (y) the Master Servicer Loss Test for such Distribution Date is satisfied and (z) the related Annual Loss Percentage is not greater than 1.50%.
Master Servicer Termination Test. The Master Servicer Termination Test is satisfied for any date of determination thereof, if (x) the 60+ Delinquency Percentage (Rolling Three Month) is less than 12.35%, (y) the Servicer Loss Test is satisfied and (z) the Annual Loss Percentage (Rolling Twelve Month) for the twelve month period immediately preceding the date of determination thereof is not greater than 1.10%.
More Definitions of Master Servicer Termination Test
Master Servicer Termination Test. With respect to any Distribution Date, the Master Servicer Termination Test if either:
Master Servicer Termination Test. The Master Servicer Termination Test will be failed with respect to any Payment Date if the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period (reduced by the aggregate amount of Subsequent Recoveries received from the Cut-off Date through the last day of the related Due Period) divided by aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds the applicable percentages set forth below with respect to such Payment Date: July 2008 through June 2009 5.00% July 2009 through June 2009 6.75% July 2010 through June 2010 8.00% July 2011 and thereafter 8.25%
Master Servicer Termination Test. With respect to either Master Servicer, the Master Servicer Termination Test will be failed: (i) with respect to a Distribution Date occurring between the Cut-off Date and the fifth anniversary of the Cut-off Date if on such Distribution Date the related Adjusted Delinquent Stated Principal Balance exceeds 6.250 % of the aggregate Stated Principal Balance of the related Mortgage Loans as of the Cut-off Date or (ii) with respect to a Distribution Date occurring after the fifth anniversary of the Cut-off Date through the tenth anniversary of the Cut-off Date if on such Distribution Date the related Adjusted Delinquent Stated Principal Balance exceeds 9.375% of the aggregate Stated Principal Balance of the related Mortgage Loans as of the Cut-off Date.
Master Servicer Termination Test. The Master Servicer Termination Test will be failed with respect to any Payment Date if the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period (reduced by the aggregate amount of Subsequent Recoveries received from the Cut-off Date through the last day of the related Due Period) divided by aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds the applicable percentages set forth below with respect to such Payment Date: PAYMENT DATE OCCURRING IN PERCENTAGE ------------------------- ---------- October 2007 through September 2008 5.00% October 2008 through September 2009 6.75% October 2009 through September 2010 8.00% October 2010 and thereafter 8.50%
Master Servicer Termination Test. The Master Servicer Termination Test is failed for any date of determination thereof, if (x) the 90+ Delinquency Percentage (Rolling Three Month) equals or exceeds 10.0%, (y) the Master Servicer Loss Test is failed or (z) the Annual Loss Percentage (Rolling Twelve Month) for the twelve month period immediately preceding the date of determination exceeds 1.00%.
Master Servicer Termination Test. With respect to any Distribution Date and Option One, the Master Servicer Termination Test will be failed if the Cumulative Loss Percentage with respect to the Home Equity Loans master serviced by Option One exceeds [6.125]% [Need confirmation]. With respect to any Distribution Date and New Century, the Master Servicer Termination Test will be failed if either (x) the Ninety Day Delinquency Ratio for the Home Equity Loans master serviced by New Century exceeds 20% or (y) the Cumulative Loss Percentage for the Home Equity Loans master serviced by New Century exceeds the percentage for the applicable Distribution Date set forth below: Distribution Date Percentage ----------------- ---------- 1-24 0.85 25-36 2.40 37-48 4.00 49-59 5.15 60 or thereafter 5.75
Master Servicer Termination Test. The Master Servicer Termination Test will be failed with respect to any Payment Date if the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period (reduced by the aggregate amount of Subsequent Recoveries received from the Cut-off Date through the last day of the related Due Period) divided by aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds the applicable percentages set forth below with respect to such Payment Date: March 2008 through February 2009 4.20% for the first month, plus an additional 1/12th of 3.30% for each month thereafter March 2009 through February 2010 7.50% for the first month, plus an additional 1/12th of 3.35% for each month thereafter March 2010 through February 2011 10.85% for the first month, plus an additional 1/12th of 2.65% for each month thereafter March 2011 through February 2012 13.50% for the first month, plus an additional 1/12th of 1.30% for each month thereafter March 2012 and thereafter 14.80%