Mortgage Portfolio Performance Test. The Mortgage Portfolio Performance Test is satisfied for any date of determination thereof if (x) the 60+ Delinquency Percentage (Rolling Six Month) is less than 13.5%, (y) the O/C 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 or equal to 1.25%.
Mortgage Portfolio Performance Test. The Mortgage Portfolio Performance Test is satisfied for any date of determination thereof if (i) the Rolling Six Month Delinquency Rate is less than or equal to 13.25%, (ii) the Subordination Loss Test is satisfied and (iii) if the 12 Month Loss Amount is not greater than or equal to 1.25% of the Pool Principal Balance as of the first day of the twelfth preceding calendar month. MORTGAGED PROPERTY: The underlying property or properties securing a Mortgage Loan, consisting of a fee simple estate in a one or more parcels of land.
Mortgage Portfolio Performance Test. The Mortgage Portfolio Performance Test is satisfied for any date of determination thereof if either (a) (i) the Rolling Six Month Delinquency Rate is less than or equal to 11.00%, (ii) the Over-collateralization Loss Test is satisfied and (iii) if the Twelve Month Loss Amount is not greater than or equal to 1.25% of the Principal Balance of the Mortgage Loans in each Pool as of the first day of the twelfth preceding calendar month or (b) the Note Insurer, by notice to the Trust, the Servicer, the Indenture Trustee and the Collateral Agent, expressly waives in writing compliance with the foregoing tests for such Distribution Date.
More Definitions of Mortgage Portfolio Performance Test
Mortgage Portfolio Performance Test. The Mortgage Portfolio Performance Test is satisfied for any date of determination thereof if (x) the 60+ Delinquency Percentage (Rolling Three Month) for both Groups is less than 10.50%, (y) the O/C Loss Test for both Groups is satisfied and (z) the Annual Loss Percentage (Rolling Twelve Month) for the twelve month period immediately preceding the date of determination thereof for both Groups is not greater than or equal to 1.25%.
Mortgage Portfolio Performance Test. The Mortgage Portfolio Performance Test is satisfied for any date of determination thereof if (x) the 60+ Delinquency Percentage (Rolling Six Month) is less than or equal to 11.25%, (y) the O/C 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 or equal to 1.25%; provided, however, that in the event that the 60+ Delinquency Percentage (Rolling Six Month) is greater than 11.25% but less than 20.00% and clause (y) and clause (z) above are satisfied, a portion of the Limited Net Monthly Excess Cashflow shall be distributed pursuant to Section 7.03(b)(iii)(A) to reduce the Overcollaterization Deficiency Amount, which portion shall be an amount equal to the product of (i) such Limited Net Monthly Excess Cashflow and (ii) a fraction, the numerator of which is equal to the 60+ Delinquency Percentage (Rolling Six Month) less 11.25% and the denominator of which is equal to 8.75%, provided that such fraction shall not exceed 1.0.
Mortgage Portfolio Performance Test. The Mortgage Portfolio Performance Test is satisfied for any Pool on any date of determination thereof if (i) the Rolling Six Month Delinquency Rate with respect to such Pool is less than ____%, (ii) the O/C Loss Test with respect to such Pool is satisfied, (iii) the Rolling Twelve Month Loss Rate with respect to such Pool for the twelve month period immediately preceding the date of determination thereof is not greater than or equal to ____% and (iv) no more than ___% of the aggregate
Mortgage Portfolio Performance Test. The Mortgage Portfolio Performance Test is satisfied for any date of determination thereof if either (a) (i) the Rolling Six Month Delinquency Rate is less than or equal to 11.00%, (ii) the Overcollateralization Loss Test is satisfied and (iii) if the Twelve Month Loss Amount is not greater than or equal to 1.25% of the Pool Principal Balance as of the first day of the twelfth preceding calendar month or (b) the Certificate Insurer, by notice to each of the parties hereto in accordance with Section 10.06, expressly waives compliance with the foregoing tests for such Distribution Date.
Mortgage Portfolio Performance Test. The Mortgage Portfolio Performance Test is satisfied for any date of determination thereof if either (a) (i) the Rolling Six Month Delinquency Rate is less than or equal to 11.00%,
Mortgage Portfolio Performance Test. The Mortgage Portfolio Performance Test is satisfied for any Payment Date if either (a) each of the following four statements are true for such Payment Date (i) the Rolling Three Month Delinquency Rate is less than or equal to
Mortgage Portfolio Performance Test. The Mortgage Portfolio Performance Test is satisfied for any date of determination thereof if either (A) (x) the 60+ Delinquency Percentage (Rolling Six Month) is less than or equal to 12.00%, (y) the O/C 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 or equal to 1.60%; or (B) the Note Insurer by notice to each of the parties hereto in accordance with Section 6.12, expressly waives compliance with the foregoing tests for such date of determination.