Step-Up Date definition

Step-Up Date. The first Distribution Date following the first Distribution Date on which the aggregate unpaid principal balance of the Mortgage Loans, and properties acquired in respect thereof, remaining in the Trust Fund has been reduced to less than or equal to 10% of the Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.

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Step-Up Date means [●] [the Interest Payment Date immediately following the earlier of the Notice Date or the [fifth] [●] Business Day after at the end of the Deadline].

Step-Up Date means the Payment Date in respect of an Issuer on which the interest rate on the Notes issued by such Issuer increases by a pre-determined amount following the payment made by such Issuer on such Payment Date, which date in respect of the First Issuer is the Payment Date occurring in January 2008, and, in relation to any New Issuer, has the meaning specified under the relevant Issuer Master Definitions Schedule;

Examples of Step-Up Date in a sentence

• On the Step-Up Date, the Note Rate on the Class M-__ Note will increase by 0.50% per annum.] Principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts.

• On the Step-Up Date, the Note Rate on the Class A-7 Notes will increase by 0.50% per annum.] [Interest on the Class A-1 Notes will be paid monthly on each Payment Date at the Note Rate for the related Interest Accrual Period.

• Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Commitments; provided that, prior to the Step-Up Date, any reduction in Commitments shall be applied first, to reduce the Step-Up Date Commitments until the Step-Up Date Commitments are reduced to zero and, thereafter pro rata to the remaining Commitments.

• Also as a result of the election of this Step-Up Benefit, the Guaranteed Annual Lifetime Withdrawal Amount steps up to an amount equal to the Contract Value as of the Step-Up Date multiplied by the Guaranteed Annual Lifetime Withdrawal Percentage.

• Once a Step-Up Benefit has been elected and is effective a new Guaranteed Minimum Accumulation Benefit, a new Benefit Base, a new Guaranteed Annual Withdrawal Amount, and a new Guaranteed Annual Lifetime Withdrawal Amount will commence as of the most recent Step-Up Date and the previously effective Step-Up Benefit will terminate.

More Definitions of Step-Up Date

Step-Up Date. The first Payment Date on which the Issuer can cause the redemption of the Bonds pursuant to Section 8.07 of the Indenture.

Step-Up Date means the first day of the next Interest Period following the date on which a Step Up Event occurs;

Step-Up Date means February 19, 2020.

Step-Up Date. The Payment Date occurring after the first Payment Date for which the aggregate Scheduled Principal Balance of the Mortgage Loans as of the end of the related Due Period has been reduced to 20% or less of the Cut-off Date Balance.

Step-Up Date. The second Payment Date immediately following the Payment Date on which the Master Servicer can purchase all or some of the Home Loans from the Trust pursuant to Section 8.08 of the Servicing Agreement.

Step-Up Date means, following the occurrence of a Step Up Event, the first day of the next following Interest Period;

Step-Up Date means in relation to any Step Up Event, the first day of the next Interest Period following the Step Up Event Notification Deadline.