More Definitions of STEP DOWN PERCENTAGE

STEP DOWN PERCENTAGE. For any Distribution Date, the percentage indicated below: July 2006 through June 2011 0% July 2011 through June 2012 30% July 2012 through June 2013 40% July 2013 through June 2014 60% July 2014 through June 2015 80% July 2015 and after 100%

STEP DOWN PERCENTAGE. With respect to any Distribution Date occurring from October 1998 through September 2003, 0%; with respect to any Distribution Date occurring from October 2003 through September 2004, 30%; with respect to any Distribution Date occurring from October 2004 through September 2005, 40%; with respect to any Distribution Date occurring from October 2005 through September 2006, 60%; with respect to any Distribution Date occurring from October 2006 through September 2007, 80%; with respect to any Distribution Date occurring from and after October 2007, 100%.

STEP DOWN PERCENTAGE. With respect to any Distribution Date, the percentage indicated below: Distribution Date Occurring in Step Down Percentage ------------------------------ -------------------- March 2004 through February 2009 0% March 2009 through February 2010 30% March 2010 through February 2011 40% March 2011 through February 2012 60% March 2012 through February 2013 80% March 2013 and thereafter 100% SUBORDINATED CERTIFICATES: The Class M and Class B Certificates, referred to collectively.

STEP DOWN PERCENTAGE. With respect to any Distribution Date, the percentage indicated below: Distribution Date Occurring in Step Down Percentage ------------------------------ -------------------- October 1998 through September 2003................ 0% October 2003 through September 2004................ 30% October 2004 through September 2005................ 40% October 2005 through September 2006................ 60% October 2006 through September 2007................ 80% October 2007 and thereafter........................ 100%

STEP DOWN PERCENTAGE. For any Distribution Date, the percentage indicated below: Distribution Date Occurring In Step Down Percentage April 1999 through March 2004 0% April 2004 through March 2005 30% April 2005 through March 2006 40% April 2006 through March 2007 60% April 2007 through March 2008 80% April 2008 and thereafter 100% Stripped Interest Rate: For each Group I Loan, the excess, if any, of the Pass-Through Rate for such Mortgage Loan over 6.500% per annum. For each Group II Loan, the excess, if any, of the Pass-Through Rate for such Mortgage Loan over 7.000% per annum. For each Group III Loan, the excess, if any, of the Pass-Through Rate for such Mortgage Loan over 6.250% per annum. For each Group IV Loan, the excess, if any, of the Pass-Through Rate for such Mortgage Loan over 6.750% per annum.

STEP DOWN PERCENTAGE. For any Distribution Date, the percentage indicated below: Distribution Date Occurring In Step Down Percentage ---------------------------------- -------------------- January 2003 through December 2007 0% January 2008 through December 2008 30% January 2009 through December 2009 40% January 2010 through December 2010 60% January 2011 through December 2011 80% January 2012 and thereafter 100% Subordinate Certificates: The Group I-B and Group II-B Certificates. Subordinate Percentage: The Group I Subordinate Percentage or Group II Subordinate Percentage, as applicable.

STEP DOWN PERCENTAGE. For any Distribution Date with respect to the Loans shall be the percentage indicated below: DISTRIBUTION DATE OCCURRING IN STEP DOWN PERCENTAGE ------------------------------ -------------------- September 2003 through August 2008................. 0% September 2008 through August 2009................. 30% -28-

STEP DOWN PERCENTAGE definition

Filter & Search

Related Definitions