Fixed Rate Stepdown Date definition
Fixed Rate Stepdown Date. The later to occur of (x) the Distribution Date in April 2008 and (y) the first Distribution Date on which the aggregate Certificate Principal Balance of the Class AF Certificates (after calculating anticipated distributions on such Distribution Date) is less than or equal to 67.40% of the aggregate Stated Principal Balance of the Mortgage Loans in Loan Group 1 for such Distribution Date.
Fixed Rate Stepdown Date. The later to occur of (x) the Payment Date in ______ 200_ and (y) the first Payment Date on which the aggregate Note Principal Amount of the [Group AF] Notes (after calculating anticipated distributions on such Payment Date) is less than or equal to ______% of the aggregate Stated Principal Balance of the Mortgage Loans in [Pool 1] for such Payment Date.
Fixed Rate Stepdown Date. With respect to the Fixed Rate Certificates, the later to occur of (i) the Distribution Date in August 2002 or (ii) the first Distribution Date on which the Fixed Rate Class A Certificate Principal Balance is less than or equal to 69.50% of the Stated Principal Balances of the Fixed Rate Mortgage Loans as of the preceding Due Date.
More Definitions of Fixed Rate Stepdown Date
Fixed Rate Stepdown Date. With respect to the Fixed Rate Certificates, the later to occur of (i) the Distribution Date in October 2002 or (ii) the first Distribution Date on which the Fixed Rate Senior Enhancement Percentage is greater than or equal to 40.00%.