Group III Senior Percentage. As of each Distribution Date, the lesser of 100% and a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of the Group III Certificates immediately prior to such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) in Loan Group III immediately prior to such Distribution Date.
Group III Senior Percentage. With respect to any Distribution Date, the lesser of (i) 100% and (ii) the Class III-A-1 Principal Balance divided by the aggregate Principal Balance of the Group III Loans (less the Class III-P Principal Balance), in each case immediately prior to the Distribution Date.
Group III Senior Percentage. As to any Distribution Date, the percentage equivalent of a fraction the numerator of which is the aggregate of the Class Principal Balance of the Class III-A-1 Certificates immediately prior to such Distribution Date and the denominator of which is the aggregate of the Stated Principal Balances of the Mortgage Loans in Loan Group III, as of the first day of the related Collection Period (excluding any such Mortgage Loans that were subject to a Payoff, the principal of which was distributed on the Distribution Date preceeding the current Distribution Date); provided, however, in no event will the Group III Senior Percentage exceed 100%.
Examples of Group III Senior Percentage in a sentence
On any Distribution Date, 100% minus the Group III Senior Percentage.
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More Definitions of Group III Senior Percentage
Group III Senior Percentage. With respect to any Distribution Date and a loan group included in Collateral Pool III, the lesser of (a) 100% and (b) a fraction, expressed as a percentage, the numerator of which is the excess, if any, of the aggregate Certificate Principal Balance of the related Group III Class A Certificates for such Distribution Date over the aggregate amount, if any, payable to the Holders of the related Group III Class A Certificates on such date pursuant to clause (d) of the definition of “Senior Principal Distribution Amount,” and the denominator of which is the sum of (i) the aggregate Scheduled Principal Balance of the related Group III Mortgage Loans, plus (ii) the aggregate Scheduled Principal Balance of the REO Properties in related loan group, in each case before reduction for any Realized Losses on such Distribution Date. Notwithstanding the foregoing, on any Cross-Collateralization Date on which (x) the sum of (i) the aggregate Scheduled Principal Balance of the related Group III Mortgage Loans, plus (ii) the aggregate Scheduled Principal Balance of the REO Properties in the related loan group, in each case before reduction for any Realized Losses on such Distribution Date exceeds (y) the excess, if any, of the Certificate Principal Balance of the related Group III Class A Certificates for such Distribution Date over the aggregate amount, if any, payable to the Holders of the related Group III Class A Certificates on such date pursuant to clause (d) of the definition of “Senior Principal Distribution Amount,” the Group III Senior Percentage will equal the lesser of (a) 100% and (b) fraction, expressed as a percentage, the numerator of which is the sum of (i) the excess, if any, of the Certificate Principal Balance of the related Group III Class A Certificates for such Distribution Date over the aggregate amount, if any, payable to the Holders of the related Group III Class A Certificates on such date pursuant to clause (d) of the definition of “Senior Principal Distribution Amount,” plus (ii) the portion of the Overcollateralized Amount with respect to Collateral Pool III, and the denominator of which is the sum of (i) the aggregate Scheduled Principal Balance of the related Group III Mortgage Loans, plus (ii) the aggregate Scheduled Principal Balance of the REO Properties in related loan group, in each case before reduction for any Realized Losses on such Distribution Date. On any Distribution Date after the reduction of the Certificate Principal Balances...
Group III Senior Percentage. For any Distribution Date, the lesser of (i) 100% and (ii) the Class III-A Principal Balance divided by the aggregate Principal Balance of the Group III Loans, in each case immediately before such Distribution Date. Group III Senior Prepayment Percentage: See the definition of “Group I Senior Prepayment Percentage, Group II Senior Prepayment Percentage, Group III Senior Prepayment Percentage, Group IV Senior Prepayment Percentage, Group V Senior Prepayment Percentage, Group VI Senior Prepayment Percentage or Group VII Senior Prepayment Percentage.”
Group III Senior Percentage. With respect to each Certificate Group related to a Sub-Loan Group in Loan Group III, initially 92.65%. With respect to any Distribution Date and a Certificate Group related to a Sub-Loan Group in Loan Group III, the lesser of (i) 100% and (ii) the percentage obtained by dividing the aggregate Certificate Principal Balance of the Senior Certificates in such Certificate Group immediately preceding such Distribution Date by the aggregate Stated Principal Balance of the Mortgage Loans in the related Sub-Loan Group as of the beginning of the related Due Period.
Group III Senior Percentage. As of the Closing Date will be approximately 96.85% and, thereafter, with respect to any Distribution Date the sum of the class Principal Balances of the Class IIIA Certificates (other than Component 1A-P-1 of the Class 1A-P Certificates) and Component Principal Balance of Component 1A-7-1 of the Class 1A-7 Certificates divided by the aggregate Scheduled Principal Balance of all Group III Loans, in each case, immediately preceding such Distribution Date (exclusive of the Group III Discount Fraction of the Group III Discount Loans).
Group III Senior Percentage. For any Distribution Date, the lesser of (i) 100% and (ii) the aggregate Class Principal Balance of the Group III-A Certificates divided by the aggregate Principal Balance of the Group III Loans (less the Class III-P Principal Balance), in each case immediately after any allocations of Realized Losses but before any distributions on such Distribution Date. Group III Senior Prepayment Percentage or Group IV Senior Prepayment Percentage: For any Distribution Date, each of the Group III Senior Prepayment Percentage and the Group IV Senior Prepayment Percentage shall equal 100%, unless (i) the Group III Senior Percentage for such Distribution Date is less than or equal to the Group III Senior Percentage as of the Closing Date and the Group IV Senior Percentage for such Distribution Date is less than or equal to the Group IV Senior Percentage as of the Closing Date, (ii) such Distribution Date occurs on or after the fifth anniversary of the first Distribution Date and (iii) the following tests specified in clauses (a) through (d) are met with respect to each of Loan Group III and Loan Group IV:
Group III Senior Percentage. With respect to any Distribution Date, the lesser of (i) 100% and (ii) the Class III-A-1 Principal Balance divided by the aggregate Principal Balance of the Group III Loans (less the Class III-P Fraction of each Class III-P Mortgage Loan), in each case immediately prior to the Distribution Date. Group III Senior Prepayment Percentage, Group IV Senior Prepayment Percentage or Group V Senior Prepayment Percentage: (i) On any Distribution Date occurring before the Distribution Date in the month of the fifth anniversary of the first Distribution Date, each of the Group III Senior Prepayment Percentage, the Group IV Senior Prepayment Percentage and the Group V Senior Prepayment Percentage shall equal 100%; (ii) on any other Distribution Date on which the Group III Senior Percentage for such Distribution Date exceeds the Group III Senior Percentage as of the Closing Date, the Group IV Senior Percentage for such Distribution Date exceeds the Group IV Senior Percentage as of the Closing Date or the Group V Senior Percentage for such Distribution Date exceeds the Group V Senior Percentage as of the Closing Date, then each of the Group III Senior Prepayment Percentage, the Group IV Senior Prepayment Percentage and the Group V Senior Prepayment Percentage shall equal 100%; and (iii) on any other Distribution Date in each of the months of the fifth anniversary of the first Distribution Date and thereafter, each of the Group III Senior Prepayment Percentage, the Group IV Senior Prepayment Percentage and the Group V Senior Prepayment Percentage shall equal 100%, unless the following tests specified in clauses (a) through (f) are met with respect to each of Loan Group III, Loan Group IV and Loan Group V:
Group III Senior Percentage. With respect to any Distribution Date and the Class AV-3 Certificates, the lesser of (a) 100% and (b) a fraction, expressed as a percentage, the numerator of which is the excess, if any, of the aggregate Certificate Principal Balance of the Class AV-3 Certificates for such Distribution Date over the aggregate amount, if any, payable to the Holders of the Class AV-3 Certificates on such date pursuant to clause (d) of the definition of "Group I/IV Senior Principal Distribution Amount," and the denominator of which is the sum of (i) the Scheduled Principal Balance of each of the Group III Mortgage Loans, plus (ii) the Scheduled Principal Balance of each of the REO Properties in Loan Group III, in each case before reduction for any Realized Losses on such Distribution Date. Notwithstanding the foregoing, on any Cross-Collateralization Date on which the Group III Mortgage Loans exceed the Certificate Principal Balance of the Class AV-3 Certificates, the Group III Senior Percentage will equal the lesser of (i) 100% and (ii) the sum of the Certificate Principal Balance of the Class AV-3 Certificates immediately prior to such Distribution Date plus the Overcollateralized Amount divided by the Scheduled Principal Balances of the Group III Mortgage Loans immediately prior to such Distribution Date. On any Distribution Date after the reduction of the Certificate Principal Balance of the Class AV-1 Certificates, the Class AV-2 Certificates and the Class AV-4 Certificates to zero, the Group III Senior Percentage will be a percentage equal to the Certificate Principal Balance of the Class AV-3 Certificates immediately prior to such Distribution Date divided by the Scheduled Principal Balances of the Mortgage Loans immediately prior to such Distribution Date.