Step Up Cumulative Loss Test. The Step Up Cumulative Loss Test will be met with respect to a Distribution Date as follows: (i) for the 1st through the 12th Distribution Dates, if the Loss Percentage for such Distribution Date is more than 1.25%; (ii) for the 13th through the 24th Distribution Dates, if the Loss Percentage for such Distribution Date is more than 1.50%; (iii) for the 25th through the 36th Distribution Dates, if the Loss Percentage for such Distribution Date is more than 2.50%; (iv) for the 37th through the 48th Distribution Dates, if the Loss Percentage for such Distribution Date is more than 3.25%; and (v) for the 49th Distribution Date and any Distribution Date thereafter, if the Loss Percentage for such Distribution Date is more than 4.00%.
Step Up Cumulative Loss Test. The Step Up Cumulative Loss Test will be met with respect to a Distribution Date as follows: (i) for the ___ through the ____ Distribution Dates, if the Cumulative Loss Percentage for such Distribution Date is more than ____%; (ii) for the ____ through the ____ Distribution Dates, if the Cumulative Loss Percentage for such Distribution Date is more than ____%; (iii) for the ____ through the ____ Distribution Dates, if the Cumulative Loss Percentage for such Distribution Date is more than ____%; (iv) for the ____ through the ____ Distribution Dates, if the Cumulative Loss Percentage for such Distribution Date is more than ____%; and (v) for the ____ Distribution Date and any Distribution Date thereafter, if the Cumulative Loss Percentage for such Distribution Date is more than ____%.
Step Up Cumulative Loss Test. The Step Up Cumulative Loss Test will be met with respect to a Payment Date as follows: (i) for the through the Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than %; (ii) for the through the Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than %; (iii) for the through the Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than %; (iv) for the through the Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than %; and (v) for the Payment Date and any Payment Date thereafter, if the Cumulative Loss Percentage for such Payment Date is more than %.
Examples of Step Up Cumulative Loss Test in a sentence
For any Payment Date, the Step Up Trigger for both Groups will have occurred if any one of the Step Up Cumulative Loss Test, the Step Up Rolling Delinquency Test or the Step Up Rolling Loss Test is met for both Groups with respect to such Payment Date.
More Definitions of Step Up Cumulative Loss Test
Step Up Cumulative Loss Test. The Step Up Cumulative Loss Test will be met with respect to a Payment Date as follows: (i) for the 1st through the 12th Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than 0.85%; (ii) for the 13th through the 24th Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than 1.20%; (iii) for the 25th through the 36th Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than 1.95%; (iv) for the 37th through the 48th Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than 2.75%; (v) for the 49th through the 60th Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than 3.30% and (vi) for the 61st Payment Date and any Payment Date thereafter, if the Cumulative Loss Percentage for such Payment Date is more than 4.10%.
Step Up Cumulative Loss Test. The Step Up Cumulative Loss Test will be met with respect to a Distribution Date as follows: (i) for the 1st through the 12th Distribution Dates, if the Cumulative Loss Percentage for such Distribution Date is more than 1.7%; (ii) for the 13th through the 24th Distribution Dates, if the Cumulative Loss Percentage for such Distribution Date is more than 2.5%; (iii) for the 25th through the 36th Distribution Dates, if the Cumulative Loss Percentage for such Distribution Date is more than 3.5%; (iv) for the 37th through the 48th Distribution Dates, if the Cumulative Loss Percentage for such Distribution Date is more than 4.8%; (v) for the 49th through 60th Distribution Date, if the Cumulative Loss Percentage for any Distribution Date is more than 5.5% and for the 61st Distribution Date and any Distribution Date thereafter, if the Cumulative Loss Percentage for such Distribution Date is more than 6.0%.
Step Up Cumulative Loss Test. As such term is defined in the Insurance and Indemnity Agreement.
Step Up Cumulative Loss Test. With respect to the Fixed Rate Group and any Distribution Date, a determination as to whether: (i) for any Distribution Date occurring prior to March 1999, the Loss Percentage for such Mortgage Loan Group and Distribution Date is greater than 0.90%; (ii) for any Distribution Date occurring in or after March 1999 but prior to March 2000, the Loss Percentage for such Mortgage Loan Group and Distribution Date is greater than 1.25%; (iii) for any Distribution Date occurring in or after March 2000 but prior to March 2001, the Loss Percentage for such Mortgage Loan Group and Distribution Date is greater than 2.00%; (iv) for any Distribution Date occurring in or after March 2001 but prior to March 2002, the Loss Percentage for such Mortgage Loan Group and Distribution Date is greater than 2.50%; and (v) for any Distribution Date occurring in or after March 2002, the Loss Percentage for such Mortgage Loan Group and Distribution Date is greater than 3.25%.
Step Up Cumulative Loss Test. With respect to any Distribution Date and either Mortgage Loan Group, a determination as to whether: (i) for any Distribution Date occurring in or prior to December 1997, the Loss Percentage for such Distribution Date and such Mortgage Loan Group is more than 0.75%, (ii) for any Distribution Date occurring in or prior to December 1998, the Loss Percentage for such Distribution Date and such Mortgage Loan Group is more than 1.00%, (iii) for any Distribution Date occurring in or prior to December 1999, the Loss Percentage for such Distribution Date and such Mortgage Loan Group is more than 1.25%, (iv) for any Distribution Date occurring in or prior to December 2000, the Loss Percentage for such Distribution Date and Mortgage Loan Group is more than 1.50% and (v) for any Distribution Date occurring in or after January 2001, the Loss Percentage for such Distribution Date and Mortgage Loan Group is more than 2.00%.
Step Up Cumulative Loss Test means the Step Up Cumulative Loss Test will be met with respect to a Distribution Date as follows (i) for the 1st through the 12th Distribution Dates, if the Cumulative Loss Percentage for such Distribution Date is more than 1.00%, (ii) for the 13th through the 24th Distribution Dates, if the Cumulative Loss Percentage for such Distribution Date is more than 1.50%, (iii) for the 25th through the 36th Distribution Dates, if the Cumulative Loss Percentage for such Distribution Date is more than 2.15%, (iv) for the 37th through the 48th Distribution Dates, if the Cumulative Loss Percentage for such Distribution Date is more than 2.65% and (v) for the 49th Distribution Date and any Distribution Date thereafter, if the Cumulative Loss Percentage for such Distribution Date is more than 3.25%.
Step Up Cumulative Loss Test. The Step-Up Cumulative Loss Test will be met with respect to a Payment Date as follows: (i) for the 1st through the 12th Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than 0.75%, (ii) for the 13th through the 24th Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than 1.25%, (iii) for the 25th through the 36th Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than 3.00%, (iv) for the 37th through the 48th Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than 3.75%, (v) for the 49th through the 60th Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than 4.25%, (vi) for the 61st through the 72nd Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than 4.65%, (vii) for the 73rd through the 84th Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than 4.95%, (viii) for the 85th through the 96th Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than 5.15%, (ix) for the 97th through the 108th Payment Dates, if the Cumulative Loss Percentage for such Payment Date is more than 5.25%, and (x) for the 109th Payment Date, and any Payment Date thereafter, if the Cumulative Loss Percentage for such Payment Date is more than 5.30%.