Principal Distribution Tests. With respect to each Distribution Date: (a) ---------------------------- the Average Sixty-Day Delinquency Ratio as of such Distribution Date does not exceed 7.0%; (b) the Cumulative Realized Losses as of such Distribution Date do not exceed an amount equal to the percentage set forth below of the initial aggregate Certificate Principal Balance of all the Certificates: Distribution Dates Percentage ------------------ ---------- September 2006 through February 2008 8.50% March 2008 through February 2009 9.75% March 2009 through August 2011 12.75% September 2011 and after 14.50%; and (c) the Current Realized Loss Ratio as of such Distribution Date does not exceed 4.0%.
Principal Distribution Tests. With respect to each Distribution Date: (a) the Average Sixty-Day Delinquency Ratio as of such Distribution Date does not exceed 5.00%; (b) the Average Thirty-Day Delinquency Ratio as of such Distribution Date does not exceed 7.00%; (c) the Cumulative Realized Losses as of such Distribution Date do not exceed an amount equal to the percentage set forth below of the initial aggregate Certificate Principal Balance of all the Certificates: Distribution Dates Percentage ------------------ ---------- February 2004 through January 2005 7% February 2005 through January 2006 8% February 2006 and after 9%; and (d) the Current Realized Loss Ratio as of such Distribution Date does not exceed 2.75%.
Principal Distribution Tests. With respect to each Distribution Date: ----------------------------
Examples of Principal Distribution Tests in a sentence
Liquidation Loss interest remaining unpaid .00 Class HE: B Principal Distribution Tests (tests must be satisfied on and after the Payment Date occurring in July 1999) 44.
Therefore, we preliminarily found that the debt-for-equity swap that occurred in 2004, on condition of the merger with Namhan, was not countervailable.
Liquidation Loss interest remaining unpaid .00 Class HE: B Principal Distribution Tests (tests must be satisfied on and after the Payment Date occurring in July 1999) 43.
Liquidation Loss interest remaining unpaid .00 CLASS HE: B Principal Distribution Tests (tests must be satisfied on and after the Payment Date occurring in June 2000) 44.
Liquidation Loss interest remaining unpaid .00 GREEN TREE FINANCIAL CORPORATION CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS GREEN TREE TRUST 1996-D MONTHLY REPORT November 1996 Page 16 Distribution Date: 12/16/96 CUSIP#: 393505 PZ9 QA3 QB1 QC9 QD7 QE5 QF2 QG0 Trust Account: 3335180-0 Class HE: B Principal Distribution Tests (tests must be satisfied on and after the Payment Date occurring in July 1999) 42.
More Definitions of Principal Distribution Tests
Principal Distribution Tests is hereby amended by deleting the words "Certificate Principal Balance of all the Certificates" in clause (b) thereof and replacing such words with "Pool Scheduled Principal Balance."
Principal Distribution Tests. With respect to each Distribution Date: (a) the Average Sixty-Day Delinquency Ratio as of such Distribution Date does not exceed __%;
Principal Distribution Tests. A test that will be satisfied with respect to any Distribution Date, if (i) the Distribution Date occurs in or after December 2005, (ii) the Average Sixty-Day Delinquency Ratio is less than or equal to 5.0%, (iii) the Current Realized Loss Ratio is less than or equal to 2.50%, and (iv) the Cumulative Realized Loss Test is satisfied.
Principal Distribution Tests. With respect to the Group I Certificates, a ---------------------------- test that will be satisfied with respect to any Distribution Date, if (i) the Average Sixty-Day Delinquency Ratio with respect to the Group I Contracts is less than or equal to 6.0%, (ii) the Current Realized Loss Ratio for the Group I Contracts is less than or equal to 3.50%, and (iii) the Cumulative Realized Loss Test is satisfied. Principal Prepayment: (i) Subject to clause (ii) of this definition, with -------------------- respect to any Contract, any payment or any portion thereof or other recovery on such Contract (other than a Liquidated Contract or a Contract repurchased pursuant to Section 3.05) that exceeds the amount necessary to bring such Contract current as of any Due Date unless (A) the related Obligor has notified or confirmed with the Servicer that such payment is to be applied as Scheduled Payments for future Due Dates or (B) the amount of such excess payment is approximately equal (subject to a variance of plus or minus 10%) to the amount of the Scheduled Payment on the next Due Date; (ii) notwithstanding the provisions of the preceding clause (i), if any payment or any portion thereof or other recovery on a Contract (other than a Liquidated Contract or a Contract repurchased pursuant to Section 3.05) is sufficient to pay the outstanding principal balance of such Contract, all accrued and unpaid interest at the Contract Rate to the payment date and, at the option of the Servicer, all other outstanding amounts owing on such Contract, the portion of the payments or recoveries on such Contract during such Collection Period that is equal to the Scheduled Principal Balance of such Contract after giving effect to the scheduled payment on such Contract due in such Collection Period; and (iii) any cash deposit made with respect to a Contract pursuant to Section 3.05.
Principal Distribution Tests. With respect to each Distribution Date: (a) the Average Sixty-Day Delinquency Ratio as of such Distribution Date does not exceed 5.50%; (b) the Average Thirty-Day Delinquency Ratio as of such Distribution Date does not exceed 8.50%; (c) the Cumulative Realized Losses as of such Distribution Date do not exceed an amount equal to the percentage set forth below of the initial aggregate Certificate Principal Balance of all the Certificates: Distribution Dates Percentage ------------------ ---------- February 2005 through January 2006 7.00% February 2006 through January 2007 8.00% February 2007 through January 2008 9.50% February 2008 and after 10.50% and (d) the Current Realized Loss Ratio as of such Distribution Date does not exceed 3.00%.
Principal Distribution Tests will be satisfied with respect to any Distribution Date, if (i) the Average Sixty-Day Delinquency Ratio is less than or equal to [___]%, (ii) the Average Thirty-Day Delinquency Ratio is less than or equal to [___]%, (iii) the Cumulative Realized Loss Test is satisfied and (iv) the Current Realized Loss Ratio does not exceed [___]%.
Principal Distribution Tests. With respect to each Group, a test that will be satisfied with respect to any Distribution Date, if (i) the Average Sixty-Day Delinquency Ratio with respect to that Group is less than or equal to 6.0%, (ii) the Current Realized Loss Ratio for that Group is less than or equal to 3.50%, and (iii) the Cumulative Realized Loss Test for that Group is satisfied. Principal Prepayment: (i) Subject to clause (ii) of this definition, with respect to any Contract, any payment or any portion thereof or other recovery on such Contract (other than a Liquidated Contract or a Contract repurchased pursuant to Section 3.05) that exceeds the amount necessary to bring such Contract current as of any Due Date unless (A) the related Obligor has notified or confirmed with the Servicer that such payment is to be applied as Scheduled Payments for future Due Dates or (B) the amount of such excess payment is approximately equal (subject to a variance of plus or minus 10%) to the amount of the Scheduled Payment on the next Due Date; (ii) notwithstanding the provisions of the preceding clause (i), if any payment or any portion thereof or other recovery on a Contract (other than a Liquidated Contract or a Contract repurchased pursuant to Section 3.05) is sufficient to pay the outstanding principal balance of such Contract, all accrued and unpaid interest at the Contract Rate to the payment date and, at the option of the Servicer, all other outstanding amounts owing on such Contract, the portion of the payments or recoveries on such Contract during such Collection Period that is equal to the Scheduled Principal Balance of such Contract after giving effect to the Scheduled Payment on such Contract due in such Collection Period; and (iii) any cash deposit made with respect to a Contract pursuant to Section 3.05.