Priority Percentage definition

Priority Percentage. As to any Distribution Date, the percentage equivalent (carried to six places rounded up) of a fraction the numerator of which is the Class Certificate Balance of the Class A-6 Certificates immediately prior to such date and the denominator of which is the aggregate of the Class Certificate Balances of all Classes of Certificates (other than the Class A-PO Certificates) immediately prior to such date.

Priority Percentage. Not applicable.

Priority Percentage. As to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the Class Certificate Balance of the Class 1-A-5 Certificates immediately prior to such Distribution Date, and the denominator of which is the aggregate of the applicable Non-PO Percentage of the Stated Principal Balance of each Mortgage Loan in Loan Group 1 as of the Due Date in the month preceding the month of such Distribution Date (after giving effect to Principal Prepayments received in the Prepayment Period related to that prior Due Date).

Examples of Priority Percentage in a sentence

• In the event that coverage under the Mortgage Pool Insurance Policy is exhausted or the Pool Insurer fails to pay valid claims for any reason, the Class 1-M Percentage and the Priority Percentage will vary due to the allocation of Depletion Losses first to the Class 1-M Certificates by reducing the Certificate Principal Balance of such Certificates.

• The Class A-6/A-7 Priority Percentage for any Distribution Date is the percentage equivalent of a fraction, the numerator of which is the aggregate Certificate Principal Balance of the Class A-6 and Class A-7 Certificates and the denominator of which is the aggregate Certificate Principal Balance of the Senior Certificates.

• If at any time the Priority Percentage increases to 100%, all future losses or delinquencies on the Mortgage Loans will be borne by the Priority Certificateholders.

• Distribution Amounts for Loan Group 1, (B) the Shift Percentage and (C) the Group I Priority Percentage and (ii) the product of (A) Unscheduled Principal Distribution Amounts for Loan Group 1, (B) the Prepayment Shift Percentage and (C) the Group I Priority Percentage.

• The class 1-M Percentage is equal to 100% minus the Priority Percentage.

More Definitions of Priority Percentage

Priority Percentage. The Principal Balance of the Class A-3 Certificates divided by the Aggregate Non-PO Principal Balance.

Priority Percentage. As to any Distribution Date, (i) the sum of the Class Certificate Balances of the Class 1-A-1 and Class 1-A-8 Certificates divided by (ii) the Pool Stated Principal Balance (Non-PO Portion) for Loan Group 1.

Priority Percentage. With respect to any Distribution Date, the fraction, expressed as a percentage, the numerator of which is the Class Principal Balance of the Class A-2 Certificates, and the denominator of which is the aggregate Class Principal Balance of the Class A-1, Class A-1-W, Class A-2 and Class A-4 Certificates, in each case prior to giving effect to any distributions of principal on the Certificates on that Distribution Date.

Priority Percentage. The Principal Balance of the Class A-5 Certificates divided by the Pool Balance (Non-PO Portion).

Priority Percentage. The Principal Balance of the Class A-4 Certificates divided by the Pool Balance (Non-PO Portion).

Priority Percentage. The lesser of (i) 100% or (ii) the sum of the Principal Balance of the Class A-10 Certificates and $25,500,000 divided by the Pool Balance (Non-PO Portion).

Priority Percentage. The sum of the Principal Balances of the Class A-3 and Class A-15 Certificates divided by the sum of the Principal Balances of the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-15 Certificates.