Class Prepayment Distribution Trigger. For a Class of Subordinate Certificates for any Distribution Date, the Class Prepayment Distribution Trigger is satisfied if the fraction (expressed as a percentage), the numerator of which is the aggregate Current Principal Amount of such Class and each Class of Subordinate Certificates subordinate thereto, if any, and the denominator of which is the Scheduled Principal Balance of all of the Mortgage Loans as of the related Due Date, equals or exceeds such percentage calculated as of the Closing Date.
Class Prepayment Distribution Trigger. For a Class of Subordinated Certificates (other than the Class of Subordinated Certificates with the highest priority of distribution), a trigger that is satisfied on any Distribution Date on which a fraction (expressed as a percentage), the numerator of which is the aggregate Class Certificate Balance of such Class and each Class subordinate thereto, if any, and the denominator of which is the aggregate Pool Principal Balance for both Mortgage Pools with respect to such Distribution Date, equals or exceeds such percentage calculated as of the Closing Date.
Class Prepayment Distribution Trigger. With respect to any Class of Subordinate Certificates and any Distribution Date, if either (i) the fraction, the numerator of which is the aggregate Class Principal Balance of such Class and each Class of Subordinate Certificates subordinate thereto, immediately prior to such Distribution Date, and the denominator of which is the Aggregate Pool Principal Balance with respect to that Distribution Date, equals or exceeds such percentage calculated as of the Closing Date or (ii) such Class of Subordinate Certificates is the only Class of Subordinate Certificates then outstanding, then the Class Prepayment Distribution Trigger shall be satisfied for such Class and Distribution Date.
Examples of Class Prepayment Distribution Trigger in a sentence
Class Prepayment Distribution Trigger: With respect to any Class of Subordinate Certificates (other than the Class B-1-X Certificates) and any Distribution Date, if either (i) the Fractional Interest for such Class with respect to such Distribution Date, equals or exceeds the Fractional Interest for such Class calculated as of the Closing Date or (ii) such Class of Subordinate Certificates is the most senior Class of Subordinate Certificates (other than the Class B-1-X Certificates) then outstanding.
More Definitions of Class Prepayment Distribution Trigger
Class Prepayment Distribution Trigger. For a Class of Subordinated Certificates (other than the Class of Subordinated Certificates with the highest priority of distribution), a trigger that is satisfied on any Distribution Date on which a fraction (expressed as a percentage), the numerator of which is the aggregate Class Certificate Balance of such Class and each Class subordinate thereto, if any, and the denominator of which is the aggregate Pool Principal Balance for all the Mortgage Pools with respect to such Distribution Date, equals or exceeds such percentage calculated as of the Closing Date. Closing Date: June 30, 2006. Code: The Internal Revenue Code of 1986, including any successor or amendatory provisions. COFI: Not applicable.
Class Prepayment Distribution Trigger. With respect to any Class of Subordinate Certificates and any Distribution Date, if either (i) the Fractional Interest for such Class with respect to such Distribution Date, equals or exceeds the Fractional Interest for such Class calculated as of the Closing Date or (ii) such Class of Subordinate Certificates is the most senior Class of Subordinate Certificates then outstanding.
Class Prepayment Distribution Trigger. For a Class of Subordinated Certificates (other than the Class of Subordinated Certificates with the highest priority of distribution), a trigger that is satisfied on any Distribution Date on which a fraction (expressed as a percentage), the numerator of which is the aggregate Class Certificate Balance of such Class and each Class subordinate thereto, if any, and the denominator of which is the aggregate Pool Principal Balance for all of the Mortgage Pools with respect to such Distribution Date, equals or exceeds such percentage calculated as of the Closing Date. Closing Date: June 30, 2005.
Class Prepayment Distribution Trigger. For a Class of Group II Subordinate Certificates for any Distribution Date, the Class Prepayment Distribution Trigger is satisfied if the fraction (expressed as a percentage), the numerator of which is the aggregate Certificate Principal Balance of such Class and each Class of Group II Subordinate Certificates subordinate thereto, if any, and the denominator of which is the Stated Principal Balance of all of the Group II Mortgage Loans as of the related Due Date, equals or exceeds such percentage calculated as of the Closing Date.
Class Prepayment Distribution Trigger. With respect to any Class of Junior Certificates and any Distribution Date, if either (i) the fraction, the numerator of which is the Class Principal Balance of such Class immediately prior to such Distribution Date and each Class of Junior Certificates subordinate thereto, and the denominator of which is the aggregate Scheduled Principal Balance for all of the Mortgage Loans with respect to that Distribution Date, equals or exceeds such percentage calculated as of the Closing Date or (ii) such Class of Junior Certificates is the only Class of Junior Certificates then outstanding.
Class Prepayment Distribution Trigger. For the Senior Mezzanine Certificates or a Class of Subordinate Certificates for any Distribution Date, the Class Prepayment Distribution Trigger is satisfied if the fraction (expressed as a percentage), the numerator of which is the aggregate Current Principal Amount of such Class and each Class of Certificates subordinate thereto, if any, and the denominator of which is the Scheduled Principal Balance of all of the Mortgage Loans as of the related Due Date, equals or exceeds such percentage calculated as of the Closing Date. If on any Distribution Date the Current Principal Amount of any Class or Classes of Senior Mezzanine Certificates and Subordinate Certificates for which the related Class Prepayment Distribution Trigger was satisfied on such Distribution Date is reduced to zero, any amounts distributable to such Class or Classes pursuant to clauses (2), (3), (5) and (6) of the definition of "Senior Mezzanine and Subordinate Optimal Principal Amount," to the extent of such Class' or Classes' remaining Allocable Share, shall be distributed to the remaining Class or Classes of Senior Mezzanine Certificates and Subordinate Certificates in reduction of their respective Current Principal Amounts, sequentially, in the order of their numerical class designations.
Class Prepayment Distribution Trigger. (A) With respect to any Class of Group B Subordinate Certificates and any Distribution Date, if either (i) the fraction, the numerator of which is the aggregate Class Principal Balance of such Class and each Class of Group B Subordinate Certificates subordinate thereto, immediately prior to such Distribution Date, and the denominator of which is the Aggregate Pool Principal Balance of the Group B Mortgage Loans with respect to that Distribution Date, equals or exceeds such percentage calculated as of the Closing Date or (ii) such Class of Group B Subordinate Certificates is the only Class of Group B Subordinate Certificates then outstanding, then the Class Prepayment Distribution Trigger shall be satisfied for such Class and Distribution Date, and (B) with respect to any Class of Group B-I Subordinate Certificates and any Distribution Date, if either (i) the fraction, the numerator of which is the aggregate Class Principal Balance of such Class and each Class of Group B-I Subordinate Certificates subordinate thereto, immediately prior to such Distribution Date, and the denominator of which is the Aggregate Pool Principal Balance of the Group B-I Mortgage Loans with respect to that Distribution Date, equals or exceeds such percentage calculated as of the Closing Date or (ii) such Class of Group B-I Subordinate Certificates is the only Class of Group B-I Subordinate Certificates then outstanding, then the Class Prepayment Distribution Trigger shall be satisfied for such Class and Distribution Date.