Examples of Stepdown Date in a sentence

A Has the Stepdown Date Occurred?** Y ** The Stepdown Date is the earlier of (1) 07/27/2009 or (2) the first date on which no class A notes remain outstanding.
Trigger Event: Will be in effect on any Payment Date on or after the Stepdown Date on which either (i) the Two Payment-Plus Rolling Average for such Payment Date equals or exceeds 11.50%, or (ii) the Cumulative Loss Percentage for such Payment Date exceeds the Cumulative Loss Percentage Trigger for such Payment Date.
Trigger Event is in effect False False Stepdown Date and Trigger Event in effect Trigger Event is in effect on or after StepDown Date False False 60+ Dlq Avg Loan Balance / Subordinate Balance Dlq Average Loan Balance / Class M and B balance Test False False Aggregate Realized Loss Pct < Scheduled Loss Pct Aggregate Realized Loss Test False False Sr. Accel.
On any Distribution Date on or after the Stepdown Date, if a Trigger Event occurs or is continuing, the required overcollateralization amount will be equal to the required overcollateralization amount in effect for the Distribution Date immediately preceding such Distribution Date.
The implementation of the Packaging, Land filling and Incineration Directives (Council of the European Union, 1994, 1999 and 2000) together with other national regulations is now radically changing the treatment of waste in the Member States.

More Definitions of Stepdown Date

Stepdown Date. The earlier to occur of (x) the later to occur of (A) the Distribution Date in March 2009 and (B) the first Distribution Date on which the Senior Enhancement Percentage (after taking into account distributions of principal on such Distribution Date) is greater than or equal to the Senior Specified Enhancement Percentage, and (y) the Distribution Date on which the aggregate Certificate Principal Balance of the Senior Certificates is reduced to zero.

Stepdown Date. The earlier to occur of (i) the Distribution Date on which the aggregate Certificate Principal Balance of the Class A Certificates has been reduced to zero and (ii) the later to occur of (x) the Distribution Date occurring in January 2006 and (y) the first Distribution Date on which the Credit Enhancement Percentage (calculated for this purpose only after taking into account payments of principal on the Mortgage Loans but prior to distribution of the Group I Principal Distribution Amount and the Group II Principal Distribution Amount to the Certificates then entitled to distributions of principal on such Distribution Date) is equal to or greater than 44.50%.

Stepdown Date means the earlier to occur of (1) the October 2011 distribution date or (2) the first date on which no class A notes remain outstanding. For this purpose, the outstanding principal balance of the reset rate notes will be deemed reduced by any amounts (other than investment earnings) on deposit in the accumulation account.

Stepdown Date. The later to occur of (i) the earlier to occur of (a) the Distribution Date in March 2009 and (b) the Distribution Date following the Distribution Date on which the aggregate Class Certificate Balances of the Class A Certificates have been reduced to zero and (ii) the first Distribution Date on which the Senior Enhancement Percentage (calculated for this purpose only after taking into account payments of principal on the Mortgage Loans applied to reduce the Stated Principal Balance of the Mortgage Loans for the applicable Distribution Date but prior to any applications of Principal Distribution Amount to the Certificates on such Distribution Date) is greater than or equal to the Senior Specified Enhancement Percentage.

Stepdown Date. The later to occur of (1) the Distribution Date in November 2008 or (2) the first Distribution Date on which (A) the Class A Certificate Principal Balance (reduced by the Principal Funds with respect to such Distribution Date) is less than or equal to (B) 66.70% of the Stated Principal Balances of the Mortgage Loans as of such Distribution Date.

Stepdown Date. The earlier to occur of:

Stepdown Date. The earlier to occur of (i) the later to occur of (x) the Distribution Date occurring in October 2009 and (y) the first Distribution Date on which the Credit Enhancement Percentage (calculated for this purpose only after taking into account distributions of principal on the Mortgage Loans, but prior to any distribution of the Principal Distribution Amount to the holders of the Certificates then entitled to distributions of principal on such Distribution Date), is greater than or equal to approximately 46.60% and (ii) the first Distribution Date following the Distribution Date on which the aggregate Certificate Principal Balance of the Class A Certificates has been reduced to zero.