Pool 2 Trigger Event definition
Pool 2 Trigger Event. With respect to any Distribution Date, means that either a Pool 2 Delinquency Event or a Pool 2 Cumulative Loss Trigger Event is in effect for such Distribution Date.
Pool 2 Trigger Event. A Pool 2 Trigger Event shall have occurred with respect to any Payment Date (i) prior to the Stepdown Date if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of Realized Losses incurred on the Pool 2 Mortgage Loans from the Cut-off Date through the last day of the related Collection Period by (y) the Cut-off Date Balance of Pool 2, is greater than or equal to 3.50% or (ii) on or after the Stepdown Date and with respect to which a Trigger Event is in effect.
Pool 2 Trigger Event. A Trigger Event has occurred with respect to any Distribution Date on or after the Pool 2 Stepdown Date if (i) the related Delinquency Percentage exceeds 35.63% of the Pool 2 Senior Enhancement Percentage for such Distribution Date or (ii) the cumulative related Realized Losses (after reduction for all related Subsequent Recoveries received through the end of the related Due Period) as a percentage of the original aggregate Stated Principal Balance of the Group 2 and Group 3 Mortgage Loans as of the Closing Date is greater than the percentage set forth in the following table: Range of Distribution Dates Percentage The percentages set forth in the table above are the percentages applicable for the first Distribution Date in the corresponding range of Distribution Dates. The percentage for each succeeding Distribution Date in a range increases incrementally by 1/12 of the positive difference between the percentage applicable to the first Distribution Date in that range and the percentage applicable to the first Distribution Date in the succeeding range.