Cumulative Loss Trigger Event. If, with respect to any Distribution Date, the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period, divided by (y) the Cut-off Date Pool Principal Balance, exceeds the applicable Cumulative Loss Percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage March 2008 through February 1.400% for the first month, plus an additional 2009 1/12th of 1.750% for each month thereafter (e.g., 2.275% in September 2008) March 2009 through February 3.150% for the first month, plus an additional 2010 1/12th of 1.750% for each month thereafter (e.g., 4.025% in September 2009) March 2010 through February 4.900% for the first month, plus an additional 2011 1/12th of 1.400% for each month thereafter (e.g., 5.600% in September 2010) March 2011 through February 6.300% for the first month, plus an additional 2012 1/12th of 0.750% for each month thereafter (e.g., 6.675% in September 2011) March 2012 and thereafter 7.050%
Cumulative Loss Trigger Event. With respect to any Distribution Date, a Cumulative Loss Trigger Event exists if the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by (y) the Cut-off Date Pool Principal Balance exceeds the applicable cumulative loss percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage ------------------------------ ----------------------------------------------- September 2007 through August 1.500% for the first month, plus an additional 2008 1/12th of 1.750% for each month thereafter (e.g., 2.375% in March 2008) September 2008 through August 3.250% for the first month, plus an additional 2009 1/12th of 2.000% for each month thereafter (e.g., 4.250% in March 2009) September 2009 through August 5.250% for the first month, plus an additional 2010 1/12th of 1.500% for each month thereafter (e.g., 6.000% in March 2010) September 2010 through August 6.750% for the first month, plus an additional 2011 1/12th of 0.250% for each month thereafter (e.g., 6.875% in March 2011) September 2011 and thereafter 7.000%
Cumulative Loss Trigger Event. With respect to any Distribution Date, a Cumulative Loss Trigger Event exists if the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by (y) the Cut-off Date Pool Principal Balance exceeds the applicable cumulative loss percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage ------------------------------- ----------------------------------------------- November 2007 through 3.000% for the first month, plus an additional October 2008 1/12th of 1.500% for each month thereafter (e.g., 3.750% in May 2008) November 2008 through 4.500% for the first month, plus an additional October 2009 1/12th of 1.250% for each month thereafter (e.g., 5.125% in May 2009) November 2009 through 5.750% for the first month, plus an additional October 2010 1/12th of 0.750% for each month thereafter (e.g., 6.125% in May 2010) November 2010 and 6.500% thereafter
Examples of Cumulative Loss Trigger Event in a sentence
A Cumulative Loss Trigger Event occurs if cumulative losses on a collateral pool exceed a specified level of losses.
Therefore, he argues, “[t]here was no reason for [Plaintiff] to bargain away his counterclaims in the state court foreclosure case in order to obtain the modification to which Nationstar agreed in the October 2012 mediation.” (Id.).Plaintiff has been aware that Nationstar was the servicer of the Loan since November 2014, yet he requested a copy of the PSA over a month after Nationstar filed its Reply in Support of its Motion for Summary Judgment.
An "GROUP 2 TRIGGER EVENT" with respect to any Distribution Date on or after the Group 2 Stepdown Date consists of either a Group 2 Delinquency Trigger Event with respect to that Distribution Date or a Group 2 Cumulative Loss Trigger Event with respect to that Distribution Date.
A "Trigger Event," with respect to any Distribution Date consists of either a Delinquency Trigger Event with respect to that Distribution Date or a Cumulative Loss Trigger Event with respect to that Distribution Date.
More Definitions of Cumulative Loss Trigger Event
Cumulative Loss Trigger Event. A Cumulative Loss Trigger Event shall have occurred with respect to any Distribution Date if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses incurred on the Mortgage Loans from the Cut-off Date through the last day of the related Collection Period by (y) the Cut-off Date Balance exceeds the applicable percentages described below with respect to such Distribution Date:
Cumulative Loss Trigger Event. A Cumulative Loss Trigger Event has occurred with respect to any Distribution Date in or after December 2008, if the percentage obtained by dividing (x) the aggregate amount of Realized Losses incurred (less any Subsequent Recoveries) with respect to the Mortgage Loans from the Cut-off Date through the last day of the related Due Period by (y) the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, exceeds the applicable percentage set forth below for such Distribution Date: Distribution Date Occurring in Cumulative Loss Percentage December 2008 through November 2009 1.55% for the first month, plus an additional 1/12th of 1.90% for each month thereafter. December 2009 through November 2010 3.45% for the first month, plus an additional 1/12th of 1.95% for each month thereafter. December 2010 through November 2011 5.40% for the first month, plus an additional 1/12th of 1.60% for each month thereafter. December 2011 through November 2012 7.00% for the first month, plus an additional 1/12th of 0.85% for each month thereafter. December 2012 and thereafter 7.85% for each month.
Cumulative Loss Trigger Event. With respect to any Distribution Date, a Cumulative Loss Trigger Event shall occur if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses incurred on the Mortgage Loans from the Cut-off Date through the last day of the related Collection Period by (y) the Cut-off Date Balance, exceeds the applicable percentages described below with respect to such Distribution Date: Distribution Date Loss Percentage January 2009 through December 2009 0.30% for the first month plus an additional 1/12th of 0.40% for each month thereafter January 2010 through December 2010 0.70% for the first month plus an additional 1/12th of 0.50% for each month thereafter January 2011 through December 2011 1.20% for the first month plus an additional 1/12th of 0.50% for each month thereafter January 2012 through December 2012 1.70% for the first month plus an additional 1/12th of 0.30% for each month thereafter January 2013 and thereafter 2.00%
Cumulative Loss Trigger Event. A Cumulative Loss Trigger Event is in effect with respect to a Distribution Date on or after the Stepdown Date if aggregate amount of Realized Losses on the Mortgage Loans from (and including) the Cut-off Date for each such Mortgage Loan to (and including) the related Due Date (reduced by the aggregate amount of Subsequent Recoveries received from the Cut-off Date through the Prepayment Period related to that Due Date) exceeds the applicable percentage, for such Distribution Date, of the aggregate Stated Principal Balance of the Mortgage Loans, as set forth below: Distribution Date Percentage April 2008 – March 2009 0.20% with respect to April 2008, plus an additional 1/12th of 0.30% for each month thereafter through March 2009 April 2009 – March 2010 0.50% with respect to April 2009, plus an additional 1/12th of 0.35% for each month thereafter through March 2010 April 2010 – March 2011 0.85% with respect to April 2010, plus an additional 1/12th of 0.40% for each month thereafter through March 2011 April 2011 – March 2012 1.25% with respect to April 2011, plus an additional 1/12th of 0.45% for each month thereafter through March 2012 April 2012 – March 2013 1.70% with respect to April 2012, plus an additional 1/12th of 0.15% for each month thereafter through March 2013 April 2013 and thereafter 1.85%
Cumulative Loss Trigger Event. With respect to a Distribution Date on or after the Stepdown Date, the aggregate amount of Realized Losses on the Mortgage Loans from (and including) the Cut-off Date to (and including) the related Due Date (reduced by the aggregate amount of Subsequent Recoveries received from the Cut-off Date through the Prepayment Period related to that Due Date) exceeds the applicable percentage, for such Distribution Date, of the Cut-off Date Pool Principal Balance, as set forth below: Distribution Date Percentage ----------------- ---------- August 2009 - July 2010........................ 0.20% with respect to August 2009, plus an additional 1/12th of 0.25% for each month thereafter through July 2010 August 2010 - July 2011........................ 0.45% with respect to August 2010, plus an additional 1/12th of 0.30% for each month thereafter through July 2011 August 2011 - July 2012........................ 0.75% with respect to August 2011, plus an additional 1/12th of 0.30% for each month thereafter through July 2012
Cumulative Loss Trigger Event. A Cumulative Loss Trigger Event shall have occurred with respect to any Distribution Date if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses incurred on the Mortgage Loans from the Cut-off Date through the last day of the related Collection Period by (y) the sum of the Cut-off Date Balance and the Pre-Funding Amount, exceeds the applicable percentages described below with respect to such Distribution Date: Distribution Date Loss Percentage November 2007 to October 2008 2.50% for the first month, plus an additional 1/12th of 1.00% for each month thereafter November 2008 to October 2009 3.50% for the first month, plus an additional 1/12th of 0.25% for each month thereafter November 2009 to October 2010 3.75% for the first month, plus an additional 1/12th of 0.25% for each month thereafter November 2010 and thereafter 4.00%
Cumulative Loss Trigger Event. A Cumulative Loss Trigger Event shall have occurred with respect to any Distribution Date if the fraction, expressed as a percentage, obtained by dividing (x) the aggregate amount of cumulative Realized Losses incurred on the Mortgage Loans from the Cut-off Date through the last day of the related Collection Period by (y) the Cut-off Date Balance exceeds the applicable percentages described below with respect to such Distribution Date: Distribution Date Loss Percentage June 2008 to May 2009 2.45% for the first month, plus an additional 1/12th of 1.30% for each month thereafter June 2009 to May 2010 3.75 % for the first month, plus an additional 1/12th of 0.75 % for each month thereafter June 2010 to May 2011 4.50 % for the first month, plus an additional 1/12th of 0.25 % for each month thereafter June 2011 and thereafter 4.75 % Current Interest: With respect to any Class of Offered Certificates and any Distribution Date, the aggregate amount of interest accrued at the applicable Certificate Interest Rate during the related Accrual Period on the Class Principal Amount of such Class immediately prior to such Distribution Date.