Pro Rata Senior Percentage. With respect to each Distribution Date and each Mortgage Pool, the percentage equivalent of a fraction the numerator of which is the aggregate Class Principal Amount of the Class or Classes of the Related Certificate Group immediately prior to such Distribution Date and the denominator of which is the Aggregate Stated Principal Balance of the related Mortgage Pool for such Distribution Date.
Pro Rata Senior Percentage. With respect to each Distribution Date and each Mortgage Pool, the percentage equivalent of a fraction, the numerator of which is the aggregate Class Principal Amount of the Class or Classes of Senior Certificates of the Related Certificate Group immediately prior to such Distribution Date, and the denominator of which is the Aggregate of the Stated Principal Balance of the related Mortgage Pool for such Distribution Date; provided, however, that on any Distribution Date after a Senior Termination Date has occurred with respect to any Mortgage Pool, the Pro Rata Senior Percentage of the remaining Senior Certificates is the percentage equivalent of a fraction, the numerator of which is the aggregate of the Class Principal Amounts of the remaining Classes of Senior Certificates immediately prior to such date, and the denominator of which is the aggregate Class Principal Amount of all Classes of Certificates immediately prior to such date. Proceeding: Any suit in equity, action at law or other judicial or administrative proceeding.
Pro Rata Senior Percentage. With respect to any Distribution Date, the percentage equivalent of a fraction the numerator of which is the aggregate of the Class Certificate Principal Balances of the Classes of Senior Certificates immediately prior to such Distribution Date and the denominator of which is the Pool Balance for such Distribution Date.
Examples of Pro Rata Senior Percentage in a sentence
If the Two Times Test is satisfied with respect to any Distribution Date prior to the Distribution Date in September 2005, the Senior Percentage is the Pro Rata Senior Percentage plus 50% of an amount equal to 100% minus the related Pro Rata Senior Percentage.
If the Two Times Test is satisfied with respect to any Distribution Date prior to the Distribution Date in September 2009, the Senior Percentage is the related Pro Rata Senior Percentage plus 50% of an amount equal to 100% minus the related Pro Rata Senior Percentage.
The Senior Percentage for any Distribution Date occurring (i) before the Distribution Date in December 2014 but in or after December 2007 on which the Two Times Test is satisfied, or (ii) in or after December 2014, is the related Pro Rata Senior Percentage.
If the Two Times Test is satisfied with respect to any Distribution Date prior to the Distribution Date in December 2007, the Senior Percentage is the related Pro Rata Senior Percentage plus 50% of an amount equal to 100% minus the related Pro Rata Senior Percentage.
The Senior Percentage for any Distribution Date occurring (i) before the Distribution Date in September 2012 but in or after September 2005 on which the Two Times Test is satisfied, or (ii) in or after September 2012, is the Pro Rata Senior Percentage.
More Definitions of Pro Rata Senior Percentage
Pro Rata Senior Percentage. As to any Senior Certificate Group and Distribution Date, the percentage equivalent of a fraction the numerator of which is the aggregate of the Class Certificate Balances of each Class of Senior Certificates of such Senior Certificate Group immediately prior to such Distribution Date and the denominator of which is the aggregate of the Stated Principal Balance of each Mortgage Loan in the related Loan Group as of the Due Date in the month preceding the month of such Distribution Date; provided, however, that on any Distribution Date after the second Senior Termination Date, the Pro Rata Senior Percentage for the Senior Certificates of the remaining Senior Certificate Group is the percentage equivalent of a fraction, the numerator of which is the aggregate of the Class Certificate Balances of each such Class of Senior Certificates immediately prior to such Distribution Date and the denominator of which is the aggregate of the Class Certificate Balances of all Classes of Certificates, immediately prior to such Distribution Date. In no event will the Pro Rata Senior Percentage be greater than 100%.
Pro Rata Senior Percentage. As to any Senior Certificate Group and Distribution Date, the percentage equivalent of a fraction the numerator of which is the aggregate of the Class Certificate Balances of each Class of Senior Certificates of such Senior Certificate Group (other than such Loan Group's related Component Notional Amount or Component Notional Amounts) immediately prior to such Distribution Date and the denominator of which is the aggregate of the Stated Principal Balance of each Mortgage Loan in the related Loan Group as of the Due Date in the month preceding the month of such Distribution Date; provided, however, that on any Distribution Date after the fourth Senior Termination Date, the Pro Rata Senior Percentage for the Senior Certificates of the remaining Senior Certificate Group is the percentage equivalent of a fraction, the numerator of which is the aggregate of the Class Certificate Balances of each such Class of Senior Certificates (other than such Loan Group's related Component Notional Amount or Component Notional Amounts) immediately prior to such Distribution Date and the denominator of which is the aggregate of the Class Certificate Balances of all Classes of Certificates (other than the aggregate of the Component Notional Amounts) immediately prior to such Distribution Date. In no event will the Pro Rata Senior Percentage be greater than 100%.
Pro Rata Senior Percentage. As to any Senior Certificate Group and Distribution Date, the percentage equivalent of a fraction the numerator of which is the aggregate of the Class Certificate Balances of each Class of Senior Certificates of such Senior Certificate Group (other than the related Class 1-X Component Balance) immediately prior to such Distribution Date and the denominator of which is the aggregate of the Stated Principal Balance of each Mortgage Loan in the related Loan Group as of the Due Date in the month preceding the month of such Distribution Date; provided, however, that on any Distribution Date after the second Senior Termination Date, the Pro Rata Senior Percentage for the Senior Certificates of the remaining Senior Certificate Group is the percentage equivalent of a fraction, the numerator of which is the aggregate of the Class Certificate Balances of each such Class of Senior Certificates (other than the related Class 1-X Component Balance) immediately prior to such Distribution Date and the denominator of which is the aggregate of the Class Certificate Balances of all Classes of Certificates (other than the Class 1-X Certificates) immediately prior to such Distribution Date. In no event will the Pro Rata Senior Percentage be greater than 100%.
Pro Rata Senior Percentage. With respect to each Loan Group and any Distribution Date, the percentage equivalent of a fraction the numerator of which is the aggregate of the Class Certificate Principal Balances of the Classes of Senior Certificates relating to that Loan Group immediately prior to such Distribution Date and the denominator of which is the Loan Group Balance in the related Loan Group for such Distribution Date provided, however, that on any Distribution Date after a Senior Termination Date has occurred with respect to three Senior Certificate Groups, the Pro Rata Senior Percentage of the remaining Senior Certificates is the percentage equivalent of a fraction, the numerator of which is the aggregate of the Certificate Principal Balances of each remaining Class of Senior Certificates immediately prior to such date and the denominator of which is the aggregate of the Certificate Principal Balances of all Classes of Certificates, immediately prior to such date.
Pro Rata Senior Percentage. With respect to each Distribution Date and each Mortgage Pool, the percentage equivalent of a fraction the numerator of which is the aggregate Class Principal Amount of the Class or Classes of the Related Certificate Group immediately prior to such Distribution Date and the denominator of which is the aggregate of the Stated Principal Balance of all Mortgage Loans in that Mortgage Pool for such Distribution Date; provided, however, that on any Distribution Date after a Senior Termination Date has occurred with respect to any two Mortgage Pools, the Pro Rata Senior Percentage of the remaining Senior Certificates is the percentage equivalent of a fraction, the numerator of which is the aggregate of the Class Principal Amounts of the remaining Classes of Senior Certificates immediately prior to such date and the denominator of which is the aggregate Class Principal Amount of all Classes of Certificates, immediately prior to such date.
Pro Rata Senior Percentage. With respect to any Payment Date, the percentage equivalent of a fraction the numerator of which is the aggregate of the Class Principal Amounts of the Classes of Senior Bonds immediately prior to such Payment Date and the denominator of which is the Pool Stated Principal Balance for such Payment Date.
Pro Rata Senior Percentage. With respect to any Payment Date, the percentage equivalent of a fraction the numerator of which is the aggregate of the Class Principal Amounts of the Classes of Senior Bonds immediately prior to such Payment Date and the denominator of which is the sum of the Pool Stated Principal Balance and Pre-Funded Amount for such Payment Date.