Pool 1 Stepdown Date definition

Pool 1 Stepdown Date. The later to occur of (x) the Distribution Date in February 2009 and (y) the first Distribution Date on which the Pool 1 Senior Enhancement Percentage (calculated for this purpose after giving effect to payments or other recoveries in respect of the Mortgage Loans in Pool 1 during the related Collection Period, but before giving effect to distributions on any related Certificate on such Distribution Date) is greater than or equal to 17.92%.
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Pool 1 Stepdown Date. The earlier of (x) the first Distribution Date following the Distribution Date on which the Class Principal Amounts of the Group 1 Senior Certificates have each been reduced to zero or (y) the later to occur of (1) the Distribution Date in July 2010 and (2) the first Distribution Date on which the Pool 1 Senior Enhancement Percentage (calculated for this purpose after giving effect to payments or other recoveries in respect of the Pool 1 Mortgage Loans during the related Collection Period, but before giving effect to distributions on any related Certificate on such Distribution Date) is greater than or equal to 28.60%.
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Pool 1 Stepdown Date. The earlier to occur of (1) the Distribution Date on which the aggregate Class Principal Amount of the Class AF Certificates has been reduced to zero and (2) the later to occur of (x) the Distribution Date occurring in August 2009 and (y) the first Distribution Date on which the Pool 1 Senior Enhancement Percentage is greater than or equal to 40.30% (for the purpose of this definition only, Pool 1 Senior Enhancement Percentage shall be calculated prior to the distribution of Group 1 Principal Distribution Amounts on the Pool 1 Mezzanine Certificates).
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Related to Pool 1 Stepdown Date

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

  • Stepdown Date The later to occur of (x) the Distribution Date in December 2005 and (y) the first Distribution Date on which the Senior Enhancement Percentage (calculated for this purpose after giving effect to payments or other recoveries in respect of the Mortgage Loans during the related Collection Period but before giving effect to distributions on the Certificates on such Distribution Date) is greater than to equal to 45.50%.

  • 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.

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).

  • Overcollateralization Target Amount means 0.85% of the Adjusted Pool Balance as of the Cutoff Date.