Master Servicer Termination Test definition

Master Servicer Termination Test. With respect to any Distribution Date, the Master Servicer Termination Test will be failed if the Cumulative Loss Percentage exceeds 4.00%.
Master Servicer Termination Test. With respect to any Distribution Date, a test which is satisfied if (x) the related Rolling Delinquency Percentage is less than 14.0%, (y) the Master Servicer Loss Test for such Distribution Date is satisfied and (z) the related Annual Loss Percentage is not greater than 1.50%.
Master Servicer Termination Test. The Master Servicer Termination Test will be failed with respect to any Payment Date if the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period (reduced by the aggregate amount of Subsequent Recoveries received from the Cut-off Date through the last day of the related Due Period) divided by aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds the applicable percentages set forth below with respect to such Payment Date: Payment Date Occurring In Percentage May 2008 through April 2009 5.00% May 2009 through April 2009 6.75% May 2010 through April 2010 8.00% May 2011 and thereafter 8.25%

More Definitions of Master Servicer Termination Test

Master Servicer Termination Test. With respect to any Distribution Date, the Master Servicer Termination Test if either:
Master Servicer Termination Test. With respect to either Master Servicer, the Master Servicer Termination Test will be failed: (i) with respect to a Distribution Date occurring between the Cut-off Date and the fifth anniversary of the Cut-off Date if on such Distribution Date the related Adjusted Delinquent Stated Principal Balance exceeds 6.250 % of the aggregate Stated Principal Balance of the related Mortgage Loans as of the Cut-off Date or (ii) with respect to a Distribution Date occurring after the fifth anniversary of the Cut-off Date through the tenth anniversary of the Cut-off Date if on such Distribution Date the related Adjusted Delinquent Stated Principal Balance exceeds 9.375% of the aggregate Stated Principal Balance of the related Mortgage Loans as of the Cut-off Date.
Master Servicer Termination Test. The Master Servicer Termination Test is satisfied for any date of determination thereof, if (x) the 90+ Delinquency Percentage (Rolling Three Month) is less than 10.0%, (y) the Master Servicer Loss Test is satisfied and (z) the Annual Loss Percentage (Rolling Twelve Month) for the twelve month period immediately preceding the date of determination is not greater than 1.00%.
Master Servicer Termination Test. The Master Servicer Termination Test will be failed with respect to any Payment Date if the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period (reduced by the aggregate amount of Subsequent Recoveries received from the Cut-off Date through the last day of the related Due Period) divided by aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds the applicable percentages set forth below with respect to such Payment Date: PAYMENT DATE OCCURRING IN PERCENTAGE ------------------------- ---------- October 2007 through September 2008 5.00% October 2008 through September 2009 6.75% October 2009 through September 2010 8.00% October 2010 and thereafter 8.50%
Master Servicer Termination Test. With respect to any Distribution Date, the Master Servicer Termination Test will be failed if the Cumulative Loss Percentage exceeds exceeds the applicable percentages set forth below with respect to such Distribution Date: DISTRIBUTION DATE OCCURRING IN PERCENTAGE ------------------------------ ---------- November 2006 through October 2007 2.00% November 2007 through October 2008 3.35% November 2008 through October 2009 4.75% November 2009 through October 2010 5.25% November 2010 and thereafter 5.50%
Master Servicer Termination Test. The Master Servicer Termination Test is failed if either (x) Cumulative Net Losses for the Mortgage Loans exceed 5.10% of the aggregate Original Class Principal Balance of the Offered Certificates or (y) the most recent Three Month 90-Day Delinquency Rate exceeds 30%.
Master Servicer Termination Test. With respect to any Distribution Date and Option One, the Master Servicer Termination Test will be failed if the Cumulative Loss Percentage with respect to the Home Equity Loans master serviced by Option One exceeds [6.125]% [Need confirmation]. With respect to any Distribution Date and New Century, the Master Servicer Termination Test will be failed if either (x) the Ninety Day Delinquency Ratio for the Home Equity Loans master serviced by New Century exceeds 20% or (y) the Cumulative Loss Percentage for the Home Equity Loans master serviced by New Century exceeds the percentage for the applicable Distribution Date set forth below: Distribution Date Percentage ----------------- ---------- 1-24 0.85 25-36 2.40 37-48 4.00 49-59 5.15 60 or thereafter 5.75