STEP DOWN PERCENTAGE. With respect to any Distribution Date, the percentage indicated below: Distribution Date Occurring in Step Down Percentage ------------------------------ --------------------
STEP DOWN PERCENTAGE. For any Distribution Date, the percentage indicated below: Distribution Date Occurring In Step Down Percentage ------------------------------ -------------------- October 1998 through September 2003 0% October 2003 through September 2004 30% October 2004 through September 2005 40% October 2005 through September 2006 60% October 2006 through September 2007 80% October 2007 and thereafter 100%
STEP DOWN PERCENTAGE. With respect to any Distribution Date, the percentage indicated below: Distribution Date Occurring in Step Down Percentage ------------------------------ -------------------- May 1999 through April 2004.... 0% May 2004 through April 2005.... 30% May 2005 through April 2006.... 40% May 2006 through April 2007.... 60% May 2007 through April 2008.... 80%
More Definitions of STEP DOWN PERCENTAGE
STEP DOWN PERCENTAGE. For any Distribution Date will be the percentage indicated below: DISTRIBUTION DATE OCCURRING IN STEP DOWN PERCENTAGE ------------------------------ -------------------- October 2002 through September 2007................... 0% October 2007 through September 2008................... 30% October 2008 through September 2009................... 40% October 2009 through September 2010................... 60% October 2010 through September 2011................... 80% October 2011 and thereafter........................... 100%
STEP DOWN PERCENTAGE. With respect to any Distribution Date occurring from May 1998 through April 2003, 0%; with respect to any Distribution Date occurring from May 2003 through April 2004, 30%; with respect to any Distribution Date occurring from May 2004 through April 2005, 40%; with respect to any Distribution Date occurring from May 2005 through April 2006, 60%; with respect to any Distribution Date occurring from May 2006 through April 2007, 80%; with respect to any Distribution Date occurring from and after May 2007, 100%.
STEP DOWN PERCENTAGE. With respect to any Distribution Date, the percentage indicated below: Distribution Date Occurring in Step Down Percentage ------------------------------- --------------------- February 2004 through January 2009 0% February 2009 through January 2010 30% February 2010 through January 2011 40% February 2011 through January 2012 60% February 2012 through January 2013 80% February 2013 and thereafter 100% SUBORDINATED CERTIFICATES: The Class M and Class B Certificates, referred to collectively.
STEP DOWN PERCENTAGE. For any Distribution Date with respect to the Loans shall be the percentage indicated below: DISTRIBUTION DATE OCCURRING IN STEP DOWN PERCENTAGE ------------------------------ -------------------- September 2003 through August 2008................. 0% September 2008 through August 2009................. 30% -28-
STEP DOWN PERCENTAGE. For any Distribution Date, the percentage indicated below: Distribution Date Occurring InStep Down Percentage March 1999 through February 20040% 102 March 2004 through February 200530% March 2005 through February 200640% March 2006 through February 200760% March 2007 through February 200880% March 2008 and thereafter100% Stripped Interest Rate: For each Group I Loan, the excess, if any, of the Pass-Through Rate for such Mortgage Loan over 6.375% per annum. For each Group II Loan, the excess, if any, of the Pass-Through Rate for such Mortgage Loan over 7.000% per annum. For each Group III Loan, the excess, if any, of the Pass-Through Rate for such Mortgage Loan over 6.500% per annum. For each Group IV Loan, the excess, if any, of the Pass-Through Rate for such Mortgage Loan over 6.750% per annum. For each Group V Loan, the excess, if any, of the Pass-Through Rate for such Mortgage Loan over 6.250% per annum.
STEP DOWN PERCENTAGE. For any Distribution Date, the percentage indicated below: Distribution Date Occurring In Step Down Percentage ------------------------------ -------------------- October 2002 through September 2007 0% October 2007 through September 2008 30% October 2008 through September 2009 40% October 2009 through September 2010 60% October 2010 through September 2011 80% October 2011 and thereafter 100% Subordinate Certificates: The Class B Certificates.
STEP DOWN PERCENTAGE. For any Distribution Date, the percentage indicated below: Distribution Date Occurring In Step Down Percentage ------------------------------ -------------------- June 2001 through May 2006 0% June 2006 through May 2007 30% June 2007 through May 2008 40% June 2008 through May 2009 60% June 2009 through May 2010 80% June 2010 and thereafter 100% Stripped Interest Rate: For each Group I Loan, the excess, if any, of the Pass-Through Rate for such Mortgage Loan over 6.638% per annum. For each Group II Loan, the excess, if any, of the Pass-Through Rate for such Mortgage Loan over 6.750% per annum. For each Group III Loan, the excess, if any, of the Pass-Through Rate for such Mortgage Loan over 6.500% per annum.