Stepped Down Required Subordinated Percentage definition
Stepped Down Required Subordinated 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 3.75% of the Original Pool Balance, and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans 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 7.50%, multiplied by (B) the number of consecutive Distribution Dates through and including the Distribution Date for which the Stepped Down Required Subordinated 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 Subordinated Percentage. For any Distribution Date after the 30th Distribution Date, a percentage equal to (i) the percentage equivalent of a fraction, the numerator of which is $4,897,473.16, and the denominator of which is the REMIC II Percentage of the aggregate Stated Principal Balance of the Mortgage Loans 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 5.50%, multiplied by (B) the number of consecutive Distribution Dates occurring after the 30th through and including the Distribution Date for which the Stepped Down Required Subordinated Percentage is being calculated, up to a maximum of twelve, and the denominator of which is twelve.
Stepped Down Required Subordinated 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 3.00% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans 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 Subordinated Percentage is being calculated, up to a maximum of twelve, for which the Step Down Trigger has occurred, and the denominator of which is twelve.
More Definitions of Stepped Down Required Subordinated Percentage
Stepped Down Required Subordinated Percentage. For any Payment 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 the Base Specified Overcollateralization Amount and the denominator of which is aggregate Principal Balance of the Mortgage Loans 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 two times the Target Percentage, multiplied by (B) the number of consecutive Payment Dates through and including the Payment Date for which the Stepped Down Required Subordinated Percentage is being calculated, up to a maximum of three, for which the Step Down Trigger has occurred, and the denominator of which is three.
Stepped Down Required Subordinated Percentage. For either the Class A1 Certificates or the Class A2 Certificates and any Distribution Date for which the Stepped-Down Subordinated Amount is being determined as specified in the definition of "Required Subordinated Amount," two times the related Initial Subordinated Percentage.
Stepped Down Required Subordinated Percentage. For any Payment 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 3.75% of the Maximum Collateral Amount, and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans 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 7.50%, multiplied by (B) the number of consecutive Payment Dates through and including the Payment Date for which the Stepped Down Required Subordinated 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.