Pool 1 Trigger Event definition
Pool 1 Trigger Event. With respect to any Distribution Date, means that either a Pool 1 Delinquency Event or a Pool 1 Cumulative Loss Trigger Event is in effect for such Distribution Date.
Pool 1 Trigger Event. A Trigger Event has occurred with respect to any Distribution Date on or after the Pool 1 Stepdown Date if (i) the related Delinquency Percentage exceeds 39.70% of the Pool 1 Senior Enhancement Percentage for such Distribution Date or (ii) the cumulative related Realized Losses (after reduction for all related Subsequent Recoveries received through the end of the related Due Period) as a percentage of the original aggregate Stated Principal Balance of the Group 1 Mortgage Loans as of the Closing Date is greater than the percentage set forth in the following table: Range of Distribution Dates Percentage The percentages set forth in the table above are the percentages applicable for the first Distribution Date in the corresponding range of Distribution Dates. The percentage for each succeeding Distribution Date in a range increases incrementally by 1/12 of the positive difference between the percentage applicable to the first Distribution Date in that range and the percentage applicable to the first Distribution Date in the succeeding range.
Pool 1 Trigger Event. A Pool 1 Trigger Event is in effect with respect to any Distribution Date on or after the Pool 1 Step-Down Date if either (i) the percentage obtained by dividing (x) the aggregate Stated Principal Balance of the Pool 1 Mortgage Loans that are 60 days or more delinquent (including, for this purpose, Mortgage Loans in REO, foreclosure or bankruptcy status) as of the last day of the prior calendar month by (y) the aggregate Stated Principal Balance of the Pool 1 Mortgage Loans as of the last day of the prior calendar month exceeds 40.00% of the Pool 1 Senior Enhancement Percentage for such Distribution Date or (ii) the cumulative Realized Losses on the Pool 1 Mortgage Loans (after reduction for all Subsequent Recoveries related to the Pool 1 Mortgage Loans received from the Cut-off Date through the last day of the related Due Period) as a percentage of the original aggregate Stated Principal Balance of the Pool 1 Mortgage Loans as of the Cut-off Date is greater than the percentage set forth in the following table: August 2009 – July 2010 0.25 %* August 2010 – July 2011 0.60 %* August 2011 – July 2012 1.00 %* August 2012 – July 2013 1.45 %* August 2013 and thereafter 1.70 % * The percentages indicated are the percentages applicable for the first Distribution Date in the corresponding range of Distribution Dates. The percentage for each succeeding Distribution Date in the range shall increase incrementally by 1/12th of the positive difference between the percentage applicable to the first Distribution Date in that range and the percentage applicable to the first Distribution Date in the succeeding range.