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%.
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%.
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).