Group II Stepdown Date definition

Group II Stepdown Date. The later to occur of (i) the Distribution Date in [Month/Year] or (ii) the first Distribution Date on which (A) the Group II Class A Certificate Principal Balance (reduced by the Group II Principal Funds with respect to such Distribution Date) is less than or equal to (B) ___% of the Stated Principal Balances of the Group II Mortgage Loans plus the Pre-Funded Amount allocable to Loan Group II, in each case, as of such Distribution Date.

Group II Stepdown Date. The earlier to occur of, (I) the first Distribution Date following the Distribution Date for which the Certificate Principal Balance for each of the Class II-A Certificates has been reduced to zero, and (II) the later to occur of (a) the Distribution Date in December 2009 and (b) the first Distribution Date on which the Group II Current Specified Enhancement Percentage is greater than or equal to 50.40%.

Group II Stepdown Date. The Distribution Date which is the later to occur of (i) the Distribution Date occurring in March 2005 and (ii) the first Distribution Date on which the Group II Overcollateralization Amount immediately prior to that Distribution Date is equal to or greater than 13.60% of the aggregate Stated Principal Balance of the Group II Loans as of the end of the preceding Due Period.

Examples of Group II Stepdown Date in a sentence

• With respect to any payment date on or after the Group II Stepdown Date, the Group II Required Overcollateralization Amount will equal the lesser of (a) the initial Group II Required Overcollateralization Amount and (b) 1.50% of the aggregate principal balance of the Group II Loans, subject to the Group II Overcollateralization Floor and to the satisfaction of certain conditions specified in the indenture.

• GroupII Required Overcollateralization Amount: With respect to any payment date prior to the Group II Stepdown Date, the "GROUP II REQUIRED OVERCOLLATERALIZATION AMOUNT" will equal 0.75% of the aggregate principal balance of the Group II Loans as of the Cut-off Date.

• Group II Required Overcollateralization Amount" means for any Payment Date (i) prior to the Group II Stepdown Date, an amount equal to 2.25% of the principal balance of the Group II loans as of the Cut-off Date plus amounts on deposit in the Group II Pre-Funding Account, and (ii) on and after the Group II Stepdown Date, an amount equal to 4.50% of the principal balance of the Group II loans as of the last day of the related due period, but not less than the Group II OC Floor.

• Group II Stepdown Date: |X| The later to occur of (x) the Distribution Date in March 2005 and (y) the first Distribution Date on which the related overcollateralization amount immediately pr or to that Distribution Date is equal to or greater than 13.60% of the aggregate Stated Principal Balance of the Group II Mortgage Loans as of the end of the preceding due period.

More Definitions of Group II Stepdown Date

Group II Stepdown Date. The later to occur of (a) the Distribution Date in February 2009 and (b) the first Distribution Date on which the Group II Current Specified Enhancement Percentage is greater than or equal to 52.00%.

Group II Stepdown Date. The later of (a) the Payment Date in September 2005 and (b) the Payment Date on which the Pool Balance of the Group II Loans after applying payments received in the related Collection Period is less than 50% of the aggregate Cut-off Date Loan Balances of the Group II Loans.

Group II Stepdown Date. With respect to Group II, earlier to occur of (i) the later to occur of (A) the the earlier to occur of (i) the later to occur of (A) Distribution Date in March 2002 and (B) the first the Distribution Date in March 2002 and (B) the first Distribution Date on which the Group I Class A Certificate Distribution Date on which the Group II Class A Principal Balance immediately prior to such Distribution Certificate Principal Balance immediately prior to such Date (less the Group I Principal Funds for such Distribution Date (less the Group II Principal Funds Distribution Date) is less than or equal to 71.00% of the for such Distribution Date) is less than or equal to Scheduled Principal Balances of Group I and (ii) the 59.50% of the Scheduled Principal Balances of Group II Distribution Date on which the Group I Class A Certificate and (ii) the Distribution Date on which the Group II Principal Balance has been reduced to zero. Class A Certificate Principal Balance has been reduced to zero.

Group II Stepdown Date. With respect to Group II, the earlier to occur of:

Group II Stepdown Date. The later to occur of (x) the Payment Date in __________, __, 200_ and (y) the first Group II Payment Date on which the Group II Senior Enhancement Percentage (after taking into account distributions of principal with respect to Group II on such Payment Date) is equal to or greater than the Group II Senior Specified Enhancement Percentage.

Group II Stepdown Date. The later to occur of (x) the 30th Payment Date from the Startup Day and (y) the date on which principal received on the Group II Certificates is equal to 50% of the aggregate principal balance of the Mortgage Loans in Group II as of the Startup Day has been received by the Trust.

Group II Stepdown Date. The earlier to occur of (1) the Distribution Date on which the aggregate Certificate Principal Balance of the Group II Senior Certificates has been reduced to zero and (2) the later to occur of (x) the Distribution Date in May 2010 and (y) the first Distribution Date on which the Credit Enhancement Percentage of the Group II Senior Certificates (calculated for this purpose only after taking into account distributions of principal on the Group II Loans, but prior to any distribution of the related Principal Distribution Amount to the related Certificateholders then entitled to distributions of principal on such Distribution Date), is greater than or equal to 15.60%. Group II Subordinate Certificates: The Group II Subordinate Certificates and the Class II-CE Certificates.