Step Down Rolling Loss Test definition

Step Down Rolling Loss Test. The Step Down Rolling Loss Test will be met with respect to a Distribution Date if the Annual Loss Percentage is less than 1.00%.
Sample 1Sample 2Sample 3
Step Down Rolling Loss Test. As such term is defined in the Insurance and Indemnity Agreement.
Sample 1Sample 2Sample 3
Step Down Rolling Loss Test. On any relevant Distribution Date and with respect to the Fixed Rate Group, the related Rolling Loss Percentage is less than 0.50%.
Sample 1Sample 2

More Definitions of Step Down Rolling Loss Test

Step Down Rolling Loss Test. The Step Down Rolling Loss Test will be met with respect to a Distribution Date as follows: (i) for the 1st through the 12th Distribution Dates, if the weighted average of the Annualized Monthly Loss Percentage for the six months preceding such Distribution Date is less than 0.50%; (ii) for the 13th through the 24th Distribution Dates, if the weighted average of the Annualized Monthly Loss Percentage for the six months preceding such Distribution Date is less than 0.90%; (iii) for the 25th through the 36th Distribution Dates, if the weighted average of the Annualized Monthly Loss Percentage for the six months preceding such Distribution Date is less than 1.50%; (iv) for the 37th through the 48th Distribution Dates, if the weighted average of the Annualized Monthly Loss Percentage for the six months preceding such Distribution Date is less than 1.50%; and (v) for 49th Distribution Date and any Distribution Date thereafter, if the weighted average of the Annualized Monthly Loss Percentage for the six months preceding such Distribution Date is less than 1.00%.
Sample 1Sample 2Sample 3
Step Down Rolling Loss Test. A determination as to whether the Rolling Loss Percentage for such Distribution Date and such Mortgage Loan Group is less than 0.50%.
Sample 1
Step Down Rolling Loss Test. With respect to the twelfth Payment Date after the Closing Date, the Step Down Rolling Loss Test shall be met if the Rolling Loss Percentage for such Payment Date is less than 0.75%. With respect to the thirteenth Payment Date and each Payment Date thereafter, the Step Down Rolling Loss Test shall be met if the Rolling Loss Percentage for such Payment Date is less than 0.50%.
Sample 1
Step Down Rolling Loss Test. The Step Down Rolling Loss Test will be met with respect to a Payment Date if the aggregate weighted average of the Realized Losses during each of the preceding six Due Periods (such weighted average to be computed on the basis of the Principal Balance as of the first day of each such Due Period), multiplied by twelve, is less than 1.00% of the aggregate Principal Balance of the Mortgage Loans (including REO Properties) as of the first day of such six-month period.
Sample 1
Step Down Rolling Loss Test. With respect to any Distribution Date occurring after September 1997 and either Mortgage Loan Group, a determination as to whether the Rolling Loss Percentage for such Distribution Date and such Mortgage Loan Group is less than 0.50%. With respect to any Distribution Date occurring in or prior to September 1997 and any Mortgage Loan Group, a determination as to whether the Rolling Loss Percentage for such Mortgage Loan Group and Distribution Date is less than 0.75%.
Sample 1
Step Down Rolling Loss Test. The Step Down Rolling Loss Test will be met, --------------------------- with respect to a Distribution Date, if the Rolling Loss Percentage for such Distribution Date and the PWRES Mortgage Loans is less than 0.75%.
Sample 1

Related to Step Down Rolling Loss Test

  • Data Loss Event means any event that results, or may result, in unauthorised access to Personal Data held by the Supplier under this Agreement, and/or actual or potential loss and/or destruction of Personal Data in breach of this Agreement, including any Personal Data Breach.

  • Cram Down Loss means, with respect to any Receivable (other than a Defaulted Receivable) as to which any court in any bankruptcy, insolvency or other similar Proceeding issues an order reducing the principal amount to be paid on such Receivable or otherwise modifies any payment terms with respect thereto, an amount equal to the amount of the principal reduction ordered by such court. A “Cram Down Loss” will be deemed to have occurred on the date of issuance of such court’s order.

  • Operating Loss means a negative Operating Profit.

  • Excess Cash Flow Payment Period means, with respect to any Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Net operating loss means a loss incurred by a person in the operation of a trade or business. "Net operating loss" does not include unutilized losses resulting from basis limitations, at-risk limitations, or passive activity loss limitations.

  • Excess Loss The amount of any (i) Fraud Loss realized after the Fraud Loss Coverage Termination Date, (ii) Special Hazard Loss realized after the Special Hazard Coverage Termination Date or (iii) Bankruptcy Loss realized after the Bankruptcy Coverage Termination Date.

  • Net Monthly Excess Cash Flow For any Distribution Date the amount remaining for distribution pursuant to subsection 4.02(a)(iii) (before giving effect to distributions pursuant to such subsection).

  • Net Monthly Excess Cashflow With respect to each Distribution Date, the sum of (a) any Overcollateralization Release Amount for such Distribution Date and (b) the excess of (x) Available Funds for such Distribution Date over (y) the sum for such Distribution Date of (A) the Monthly Interest Distributable Amounts for the Class A Certificates and the Mezzanine Certificates, (B) the Unpaid Interest Shortfall Amounts for the Class A Certificates and (C) the Principal Remittance Amount.

  • Aggregate Loss Severity Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the aggregate amount of Realized Losses incurred on any Mortgage Loans from the Cut-off Date to the last day of the preceding calendar month and the denominator of which is the aggregate principal balance of such Mortgage Loans immediately prior to the liquidation of such Mortgage Loans.

  • Shared-Loss Month means each calendar month between the Commencement Date and the last day of the month in which the tenth anniversary of the Commencement Date occurs, provided that, the first Shared-Loss Month shall begin on the Commencement Date and end on the last day of that month.

  • Final Shared-Loss Recovery Month means the calendar month in which the tenth anniversary of the Commencement Date occurs.

  • Excess Cash Flow Application Date as defined in Section 2.12(c).

  • Monthly Excess Cashflow For any Distribution Date, an amount equal to the sum of the Monthly Excess Interest and Overcollateralization Release Amount, if any, for such date.

  • Shared-Loss Quarter has the meaning provided in Section 2.1(a)(i) of this Commercial Shared-Loss Agreement.

  • Total Monthly Excess Spread As to any Distribution Date, an amount equal to the excess if any, of (i) the interest on the Mortgage Loans received by the Servicer on or prior to the related Determination Date or advanced by the Servicer for the related Remittance Date (net of Expense Fees) over (ii) the sum of the amounts payable to the Certificates pursuant to Section 4.02(a)(i) on such Distribution Date.

  • Monthly Loss Amount means the sum of all Foreclosure Losses, Restructuring Losses, Short Sale Losses, Portfolio Losses, Modification Default Losses and Deficient Losses realized by the Assuming Institution for any Shared Loss Month.

  • Excess Cash Flow Payment Date means the earlier of (a) the date occurring 90 days after the last day of each fiscal year of the Borrower (commencing with the fiscal year of the Borrower ending December 31, 2018) and (b) the third Business Day following the date on which financial statements with respect to such period are delivered pursuant to Section 5.01(c).

  • Loss Ratio means the ratio (expressed as a percentage) of the total amount of losses on claims associated with insurance policies incurred during a specified period to premiums earned during such period. The loss ratio is a key measure of underwriting profitability and the quality of the insurance portfolio and is used for comparisons to industry benchmarks and internal targets.

  • Final Shared-Loss Month means the calendar month in which the tenth anniversary of the Commencement Date occurs.

  • Excess Fraud Loss Any Fraud Loss, or portion thereof, which exceeds the then applicable Fraud Loss Amount.

  • Excess Special Hazard Loss Any Special Hazard Loss, or portion thereof, that exceeds the then applicable Special Hazard Amount.

  • Cumulative Net Loss Ratio means, as of any Payment Date, the ratio (expressed as a percentage) of (i) the aggregate Principal Balance of Receivables that became Defaulted Receivables plus all the Cram Down Losses (without duplication) which occurred during the period from the Cut-Off Date through the end of the related Collection Period reduced by the amount of Liquidation Proceeds with respect to Defaulted Receivables received during such period which are applied to principal of the Defaulted Receivables to (ii) the Pool Balance as of the Cut-Off Date.