Pool 3 Cumulative Loss Trigger Event definition
Pool 3 Cumulative Loss Trigger Event. With respect to any Distribution Date, a Pool 3 Cumulative Loss Trigger Event shall occur if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses incurred on the Pool 3 Mortgage Loans from the Cut-off Date through the last day of the related Collection Period by (y) the Pool 3 Cut-off Date Balance, exceeds the applicable percentages described below with respect to such Distribution Date. September 2009 through August 2010 0.25% for the first month plus an additional 1/12th of 0.20% for each month thereafter. September 2010 through August 2011 0.45% for the first month plus an additional 1/12th of 0.20% for each month thereafter. September 2011 through August 2012 0.65% for the first month plus an additional 1/12th of 0.25% for each month thereafter. September 2012 through August 2013 0.90% for the first month plus an additional 1/12th of 0.10% for each month thereafter. September 2013 and thereafter 1.00%.
Pool 3 Cumulative Loss Trigger Event. With respect to any Distribution Date, a Pool 3 Cumulative Loss Trigger Event shall occur if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses incurred on the Mortgage Loans in Pool 3 from the Cut-off Date through the last day of the related Collection Period by (y) the Pool 3 Cut-off Date Balance, exceeds the applicable percentages described below with respect to such Distribution Date: Distribution Date Loss Percentage February 2009 through January 2010 0.40% for the first month plus an additional 1/12th of 0.60% for each month thereafter February 2010 through January 2011 1.00% for the first month plus an additional 1/12th of 0.80% for each month thereafter February 2011 through January 2012 1.80% for the first month plus an additional 1/12th of 0.75% for each month thereafter February 2012 through January 2013 2.55% for the first month plus an additional 1/12th of 0.45% for each month thereafter February 2013 through January 2014 3.00% for the first month plus an additional 1/12th of 0.05% for each month thereafter February 2014 and thereafter 3.05%
Pool 3 Cumulative Loss Trigger Event. With respect to any Distribution Date, a Pool 3 Cumulative Loss Trigger Event shall occur if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses incurred on the Mortgage Loans in Pool 3 from the Cut-off Date through the last day of the related Collection Period by (y) the Pool 3 Cut-off Date Balance, exceeds the applicable percentages described below with respect to such Distribution Date: March 2008 through February 2009 0.25% March 2009 and thereafter 0.50%