Step Down Rolling Loss Test definition
Step Down Rolling Loss Test. The Step Down Rolling Loss Test will be met with respect to a Distribution Date if the Annual Loss Percentage is less than 1.00%.
Step Down Rolling Loss Test. As such term is defined in the Insurance and Indemnity Agreement.
Step Down Rolling Loss Test. On any relevant Distribution Date and with respect to the Fixed Rate Group, the related Rolling Loss Percentage is less than 0.50%.
More Definitions of Step Down Rolling Loss Test
Step Down Rolling Loss Test. The Step Down Rolling Loss Test will be met with respect to a Distribution Date as follows: (i) for the 1st through the 12th Distribution Dates, if the weighted average of the Annualized Monthly Loss Percentage for the six months preceding such Distribution Date is less than 0.50%; (ii) for the 13th through the 24th Distribution Dates, if the weighted average of the Annualized Monthly Loss Percentage for the six months preceding such Distribution Date is less than 0.90%; (iii) for the 25th through the 36th Distribution Dates, if the weighted average of the Annualized Monthly Loss Percentage for the six months preceding such Distribution Date is less than 1.50%; (iv) for the 37th through the 48th Distribution Dates, if the weighted average of the Annualized Monthly Loss Percentage for the six months preceding such Distribution Date is less than 1.50%; and (v) for 49th Distribution Date and any Distribution Date thereafter, if the weighted average of the Annualized Monthly Loss Percentage for the six months preceding such Distribution Date is less than 1.00%.
Step Down Rolling Loss Test. The Step Down Rolling Loss Test will be met, --------------------------- with respect to a Distribution Date, if the Rolling Loss Percentage for such Distribution Date and the PWRES Mortgage Loans is less than 0.75%.
Step Down Rolling Loss Test. With respect to any Distribution Date occurring after September 1997 and either Mortgage Loan Group, a determination as to whether the Rolling Loss Percentage for such Distribution Date and such Mortgage Loan Group is less than 0.50%. With respect to any Distribution Date occurring in or prior to September 1997 and any Mortgage Loan Group, a determination as to whether the Rolling Loss Percentage for such Mortgage Loan Group and Distribution Date is less than 0.75%.
Step Down Rolling Loss Test. The Step Down Rolling Loss Test will be met with respect to a Payment Date if the aggregate weighted average of the Realized Losses during each of the preceding six Due Periods (such weighted average to be computed on the basis of the Principal Balance as of the first day of each such Due Period), multiplied by twelve, is less than 1.00% of the aggregate Principal Balance of the Mortgage Loans (including REO Properties) as of the first day of such six-month period.
Step Down Rolling Loss Test. A determination as to whether the Rolling Loss Percentage for such Distribution Date and such Mortgage Loan Group is less than 0.50%.
Step Down Rolling Loss Test. With respect to the twelfth Payment Date after the Closing Date, the Step Down Rolling Loss Test shall be met if the Rolling Loss Percentage for such Payment Date is less than 0.75%. With respect to the thirteenth Payment Date and each Payment Date thereafter, the Step Down Rolling Loss Test shall be met if the Rolling Loss Percentage for such Payment Date is less than 0.50%.