Stepped Down Required Overcollateralized Percentage. For any Distribution Date for which the Step Down Trigger has occurred, a percentage equal to (i) the percentage equivalent of a fraction, the numerator of which is $_____________ and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties as of such Distribution Date, minus (ii) the percentage equivalent of a fraction, the numerator of which is the product of (A) the percentage calculated under clause (i) above minus ____%, multiplied by (B) the number of consecutive Distribution Dates through and including the Distribution Date for which the Stepped Down Required Overcollateralized Percentage is being calculated, up to a maximum of six, for which the Step Down Trigger has occurred, and the denominator of which is six.
Stepped Down Required Overcollateralized Percentage. For any Payment Date for which the Step Down Trigger has occurred, a percentage equal to the greater of (x) % and (y)
Stepped Down Required Overcollateralized Percentage. For any Payment Date for which the Step Down Requirement is satisfied, (A) with respect to Loan Group 1, [ ]% of the Aggregate Principal Balance of the related Mortgage Loans and (B) with respect to Loan Group 2, [ ]% of the Aggregate Principal Balance of the related Mortgage Loans.
More Definitions of Stepped Down Required Overcollateralized Percentage
Stepped Down Required Overcollateralized Percentage. For any Distribution Date for which the Step Down Trigger has occurred, a percentage equal to (i) the percentage equivalent of a fraction, the numerator of which is 5.65% of the initial aggregate Principal Balance of the Adjustable Rate Group plus the Prefunding Account Deposit and 5.50% of the initial aggregate Principal Balance of the Fixed Rate Group and the denominator of which is the aggregate Principal Balance of the related Mortgage Loan Group and REO Properties as of such Distribution Date, minus (ii) the percentage equivalent of a fraction, the numerator of which is the product of (A) the percentage calculated under clause (i) above minus 11.30% with respect to the Adjustable Rate Group and 11.00% with respect to the Fixed Rate Group, multiplied by (B) the number of consecutive Distribution Dates through and including the Distribution Date for which the Stepped Down Required Overcollateralized Percentage is being calculated, up to a maximum of six, for which the Step Down Trigger has occurred, and the denominator of which is six.
Stepped Down Required Overcollateralized Percentage. For any Payment Date for which the Step Down Requirement is satisfied, (A) with respect to Loan Group 1, 5.40% of the Aggregate Principal Balance of the related Mortgage Loans and (B) with respect to Loan Group 2, 5.40% of the Aggregate Principal Balance of the related Mortgage Loans.
Stepped Down Required Overcollateralized Percentage. For any Payment Date for which the Step Down Trigger has occurred, a percentage equal to the greater of (x) % and (y) (i) the percentage equivalent of a fraction, the numerator of which is the Overcolleralization Amount as of the immediately preceding Payment Date and the denominator of which is the Aggregate Principal Balance of the Mortgage Loans and REO Properties as of such Payment Date, minus (ii) the percentage equivalent of a fraction, the numerator of which is the product of (A) the percentage calculated under clause (i) above minus % multiplied by (B) the number of consecutive Payment Dates through and including the Payment Date for which the Stepped Down Required Overcollateralized Percentage is being calculated, up to a maximum of six, for which the Step Down Trigger has occurred, and the denominator of which is six.
Stepped Down Required Overcollateralized Percentage. With respect to the Fixed Rate Group and any Distribution Date for which the Step Down Trigger has occurred, a percentage equal to (i) the percentage equivalent of a fraction, the numerator of which is 3.00% of the sum of (a) the aggregate Principal Balance of the Mortgage Loans in the Fixed Rate Group as of the Cut-off Date and (b) the related allocated Prefunding Account Deposit and the denominator of which is the aggregate Principal Balance of the Mortgage Loans and REO Properties in the Fixed Rate Group as of such Distribution Date minus (ii) the percentage equivalent of a fraction, the numerator of which is the product of (A) the percentage calculated under clause (i) above minus 6.00%, multiplied by (B) the number of consecutive Distribution Dates through and including the Distribution Date for which the Stepped Down Required Overcollateralized Percentage is being calculated, up to a maximum of six, for which the Step Down Trigger has occurred, and the denominator of which is six.
Stepped Down Required Overcollateralized Percentage. For any Distribution Date for which the Step Down Trigger has occurred, a percentage equal to the greater of (x) 9.90% and (y)
Stepped Down Required Overcollateralized Percentage. For any Distribution Date for which the Step Down Trigger has occurred, a percentage equal to the greater of (x) 8.50% and (y) the percentage equivalent of a fraction, the numerator of which is the Overcollateralized Amount as of the immediately preceding Distribution Date and the denominator of which is the Aggregate Loan Balance of the Mortgage Loans and REO Properties as of such Distribution Date, minus (ii) the percentage equivalent of a fraction, the numerator of which is the product of (A) the percentage calculated under clause (i) above, minus 8.50% of the Aggregate Loan Balance of the Mortgage Loans, multiplied by (B) the number of consecutive Distribution Dates through and including the Distribution Date for which the Stepped Down Required Overcollateralization Percentage is being calculated, up to a maximum of six, for which the Step Down Trigger has occurred, and the denominator of which is six.
Stepped Down Required Overcollateralized Percentage. For any Distribution Date and either Certificate Group for which the Step Down Trigger has occurred, a percentage equal to (i) the percentage equivalent of a fraction, the numerator of which is (i) in the case of the Fixed Rate Group, 6.00% of the initial Fixed Rate Group Balance or (ii) in the case of the Adjustable Rate Group, 5.00% of the initial Adjustable Rate Group Balance, as applicable, and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group as of such Distribution Date, minus (ii) the percentage equivalent of a fraction, the numerator of which is the product of (A) the respective percentage calculated under clause (i) above minus 12.00% with respect to Fixed Rate Certificates or 11.00% with respect to the Adjustable Rate Certificates, multiplied by (B) the number of consecutive Distribution Dates through and including the Distribution Date for which the Stepped Down Required Overcollateralized Percentage for such Certificate Group is being calculated, up to a maximum of six, for which the Step Down Trigger has occurred, and the denominator of which is six.