Group I Specified Subordinated Amount definition
Group I Specified Subordinated Amount. Means (a) for any Payment Date occurring during the period commencing on the Startup Day and ending on the later of (i) the date upon which principal equal to one-half of the Group I Maximum Collateral Amount has been received and (ii) the 30th Payment Date following the Startup Day, the greater of (A) the Group I Amortized Subordinated Amount Requirement and (B) two (2) times the excess of (x) one-half of the aggregate Loan Balances of all Mortgage Loans in Group I which are 90 or more days Delinquent (including REO Properties) over (y) five times the Group I Projected Net Monthly Excess Cashflow as of such Payment Date; and (b) for any Payment Date occurring after the end of the period in clause (a) above, the greatest of (i) the lesser of (A) the Group I Amortized Subordinated Amount Requirement and (B) two (2) times the Group I Amortized Subordinated Amount Requirement stated as a percentage of the Original Certificate Principal Balance of the Class A-1 Certificates times the current Class A-1 Certificate Principal Balance, (ii) two (2) times the excess of (A) one-half of the aggregate Loan Balances of all Mortgage Loans in Group I which are 90 or more days Delinquent (including REO Properties) over (B) three times the Group I Projected Net Monthly Excess Cashflow as of such Payment Date and (iii) an amount equal to 0.50% of the Group I Maximum Collateral Amount; provided, however, notwithstanding the above, in the event that any Group I Insured Payment or Group II Insured Payment is made by the Certificate Insurer, the amount described in this clause (b) shall remain equal to the Group I Amortized Subordinated Amount Requirement. The Specified Subordinated Amount may be reduced or eliminated by the Certificate Insurer in its sole discretion. Prior to any such reduction or elimination, the Servicer and the Certificate Insurer shall give written notice to the Rating Agencies.
Group I Specified Subordinated Amount. As defined in the Insurance Agreement.
Group I Specified Subordinated Amount. As defined in Exhibit M.
More Definitions of Group I Specified Subordinated Amount
Group I Specified Subordinated Amount. As such term is defined in the Insurance and Indemnity Agreement.
Group I Specified Subordinated Amount. With respect to Group I and any Payment Date, an amount equal to (i) 2.75% of the Original Group I Pool Principal Balance or (ii) if the Step-Up Trigger has occurred, an amount equal to 100% of the aggregate Principal Balance of the Group I Mortgage Loans or (iii) if the Step-Up Trigger has not occurred but the Step-Down Trigger has occurred, an amount equal to the greater of (a) 0.50% of the Original Group I Pool Principal Balance and (b) the Group I Stepped Down Required Subordinated Percentage of the aggregate Principal Balance of the Group I Mortgage Loans as of such Payment Date.
Group I Specified Subordinated Amount for any Distribution Date occurring during the period commencing on the Closing Date and ending on the later of:
Group I Specified Subordinated Amount. With respect to each Distribution Date (i) prior to the Group I Stepdown Date, an amount equal to 0.60% of the aggregate Stated Principal Balance of the Group I Mortgage Loans as of the Cut-off Date, (ii) on or after the Group I Stepdown Date, if there is no Group I Trigger Event in effect, the greater of (a) 1.20% of the aggregate Stated Principal Balance of the Group I Mortgage Loans for the related Distribution Date (after taking into account all principal received on the Group I Mortgage Loans that is distributed on such Distribution Date) and (b) the Group I Overcollateralization Floor and (iii) on or after the Group I Stepdown Date, if a Group I Trigger Event is in effect, the Group I Specified Subordinated Amount for the prior distribution date. When the Class Certificate Balance of each Class of Group I Offered Certificates has been reduced to zero, the Group I Specified Subordinated Amount will thereafter equal zero.
Group I Specified Subordinated Amount. As defined in Exhibit L.