Examples of Group I Trigger Event in a sentence
If a Group I Trigger Event is in effect, the Overcollateralization Target Amount will equal the Target Amount for the immediately preceding period.
OVERCOLLATERALIZATION:Group I: An initial overcollateralization of 0% building to [1.50%] of the original principal balance of Group I, stepping down on the Stepdown Date, provided a Group I Trigger Event is not in effect, to [3.00%] of the then current principal balance of Group I, subject to the Overcollateralization Floor.
GROUP I TRIGGER EVENT: A "Group I Trigger Event" is in effect for the Group I Certificates if on that Payment Date: (1) The three-month rolling average percentage of the Group I loans that are 60 days or more delinquent in payment of principal and interest exceeds the product of (a) the Group I Senior Enhancement Percentage and (b) 32.00%; or (2) The Group I Cumulative Realized Losses Test is not satisfied.
However, if a Group I Trigger Event has occurred on the related Distribution Date, the Group I Targeted Overcollateralization Amount shall be equal to the Group I Targeted Overcollateralization Amount for the previous Distribution Date (after taking into account any distributions of principal made with respect to the Class BF-1, Class BF-2 and Class BF-3 Certificates pursuant to clauses 6), 7) and 8) of "Group I Priority of Payments" on the prior Distribution Date).