Group I Trigger Event. With respect to the Group I Certificates after the Group I Stepdown Date, a Distribution Date on which the product of (A) two (2.0) and (B) the quotient of (i) the aggregate Stated Principal Balance of all Group I Mortgage Loans which are 60 or more days Delinquent (including, for the purposes of this calculation, Group I Mortgage Loans in foreclosure and REO Properties) and (ii) the Stated Principal Balance of the Group I Mortgage Loans as of the preceding Servicer Advance Date, equals or exceeds the Group I Required Percentage.
Group I Trigger Event. With respect to any Distribution Date, a Group I Trigger Event exists if (i) a related Delinquency Event shall have occurred and be continuing or (ii) the aggregate amount of Realized Losses on the Group I Mortgage Loans since the Cut-off Date as a percentage of the aggregate Cut-off Date Principal Balance of the Group I Mortgage Loans exceeds the applicable percentages set forth below with respect to such Distribution Date: Distribution Date Percentage September 2009 through August 2010 3.65% with respect to September 2009, plus an additional 1/12th of the difference between 5.70% and 3.65% for each month thereafter September 2010 through August 2011 5.70% with respect to September 2010, plus an additional 1/12th of the difference between 7.35% and 5.70% for each month thereafter September 2011 through August 2012 7.35% with respect to September 2011, plus an additional 1/12th of the difference between 8.25% and 7.35% for each month thereafter September 2012 and thereafter 8.25% Group II Certificates: Any of the Class II-1A-1, Class II-1A-2, Class II-1A-3, Class II-2A, Class II-M-1, Class II-M-2, Class II-M-3, Class II-M-4, Class II-M-5, Class II-M-6, Class II-M-7, Class II-M-8, Class II-M-9, Class II-M-10, Class II-M-11, Class II-P, Class II-CE, Class II-R-1 and Class II-RX Certificates.
Group I Trigger Event. A Group I Trigger Event is in effect with respect to any Distribution Date on or after the Stepdown Date if either (a) the product of 1.2 and the Sixty-Plus Delinquency Percentage for the Group I Loans and that Distribution Date, equals or exceeds the Group I Senior Enhancement Percentage for that Distribution Date or (b) the aggregate amount of Realized Losses on the Group I Loans as a percentage of the Group I Cut-off Date Balance exceeds the following amounts:
Examples of Group I Trigger Event in a sentence
If a Group I Trigger Event is in effect, the Overcollateralization Target Amount will equal the Target Amount for the immediately preceding period.
OVERCOLLATERALIZATION:Group I: An initial overcollateralization of 0% building to [1.50%] of the original principal balance of Group I, stepping down on the Stepdown Date, provided a Group I Trigger Event is not in effect, to [3.00%] of the then current principal balance of Group I, subject to the Overcollateralization Floor.
GROUP I TRIGGER EVENT: A "Group I Trigger Event" is in effect for the Group I Certificates if on that Payment Date: (1) The three-month rolling average percentage of the Group I loans that are 60 days or more delinquent in payment of principal and interest exceeds the product of (a) the Group I Senior Enhancement Percentage and (b) 32.00%; or (2) The Group I Cumulative Realized Losses Test is not satisfied.
However, if a Group I Trigger Event has occurred on the related Distribution Date, the Group I Targeted Overcollateralization Amount shall be equal to the Group I Targeted Overcollateralization Amount for the previous Distribution Date (after taking into account any distributions of principal made with respect to the Class BF-1, Class BF-2 and Class BF-3 Certificates pursuant to clauses 6), 7) and 8) of "Group I Priority of Payments" on the prior Distribution Date).
More Definitions of Group I Trigger Event
Group I Trigger Event. With respect to the Group I Certificates after the Group I Stepdown Date, a Distribution Date on which either (a) the product of (A) two (2.0) and (B) the quotient of (i) the aggregate Stated Principal Balance of all Group I Mortgage Loans which are 60 or more days Delinquent (including, for the purposes of this calculation, Group I Mortgage Loans in foreclosure and REO Properties) and (ii) the Stated Principal Balance of the Group I Mortgage Loans as of the preceding Servicer Advance Date, exceeds the Group I Required Percentage or (b) the quotient (expressed as a percentage) of (A) the aggregate Realized Losses incurred with respect to the applicable loan group from the Cut-off Date through the last day of the calendar month preceding such Distribution Date and (B) the aggregate stated Principal Balance of the Group I Mortgage Loans as of the Cut-off Date, exceeds the Group I Required Loss Percentage.
Group I Trigger Event. A Group I Trigger Event has occurred with respect to a Payment Date if the percentage obtained by dividing (x) the principal amount of 60+ Day Delinquent Loans in Group I by (y) the aggregate outstanding Loan Balance of the Mortgage Loans in Group I as of the last day of the immediately preceding Remittance Period equals or exceeds 50% of the Group I Senior Enhancement Percentage as of the last day of the immediately preceding Remittance Period.
Group I Trigger Event. With respect to Group I and "Group II Trigger Event": With respect to Group II any Distribution Date after the Group I Stepdown Date, a and any Distribution Date after the Group II Stepdown Group I Trigger Event exists if two times the quotient of Date, a Group II Trigger Event exists if 2.5 times the (i) the Scheduled Principal Balances of all 60 or more quotient of (i) the Scheduled Principal Balances of all days Delinquent Mortgage Loans in Group I and (ii) the 60 or more days Delinquent Mortgage Loans in Group II Scheduled Principal Balances of Group I as of the and (ii) the Scheduled Principal Balances of Group II preceding Master Servicer Remittance Date equals or as of the preceding Master Servicer Remittance Date exceeds 27%. equals or exceeds 38%.
Group I Trigger Event. A Group I Trigger Event is in effect with respect to any Distribution Date if either (i) (A) with respect to any Distribution Date (other than the first Distribution Date), the three-month average (or two month-average in the case of the second Distribution Date) of the Group I Sixty-Plus Delinquency Percentage, as determined on that Distribution Date and the immediately preceding two Distribution Dates (or immediately preceding Distribution Date in the case of the second Distribution Date), equals or exceeds 50.00% of the Group I Senior Enhancement Percentage or (B) with respect to the first Distribution Date, the Group I Sixty-Plus Delinquency Percentage, as determined on that Distribution Date, equals or exceeds 50.00% of the Group I Senior Enhancement Percentage or (ii) the aggregate amount of Realized Losses on the Group I Loans as a percentage of the Group I Cut-off Date Balance exceeds the applicable amount set forth below:
Group I Trigger Event. With respect to Group I and any Distribution Date after the Group I Stepdown Date, a Group I Trigger Event exists if two times the quotient of:
Group I Trigger Event. A Group I Trigger Event is in effect with respect to any Distribution Date if either (i) (A) with respect to any Distribution Date (other than the first Distribution Date), the three-month average (or two month-average in the case of the second Distribution Date) of the Group I Sixty-Plus Delinquency Percentage, as determined on that Distribution Date and the immediately preceding two Distribution Dates (or immediately preceding Distribution Date in the case of the second Distribution Date), equals or exceeds 50.00% of the Group I Senior Enhancement Percentage or (B) with respect to the first Distribution Date, the Group I Sixty-Plus Delinquency Percentage, as determined on that Distribution Date, equals or exceeds 50.00% of the Group I Senior Enhancement Percentage or (ii) the aggregate amount of Realized Losses on the Group I Loans as a percentage of the Group I Cut-off Date Balance exceeds the applicable amount set forth below: January 2007 to December 1.70% with respect to January 2007, plus an additional 2007.............................. 1/12th of 1.15% for each month thereafter. January 2008 to December 2.85% with respect to January 2008, plus an additional 2008.............................. 1/12th of 0.85% for each month thereafter. January 2009 to December 3.70% with respect to January 2009, plus an additional 2009.............................. 1/12th of 0.50% for each month thereafter. January 2010 to December 4.20% with respect to January 2010, plus an additional 2010.............................. 1/12th of 0.25% for each month thereafter. January 2011 and thereafter....... 4.45%.
Group I Trigger Event. A Group I Trigger Event has occurred with respect to a Distribution Date if either a Group I Cumulative Loss Trigger Event or a Group I Delinquency Trigger Event has occurred with respect to such Distribution Date.