Group II Specified Subordinated Amount definition
Group II 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 II Maximum Collateral Amount has been received and (ii) the 30th Payment Date following the Startup Day, the greater of (A) the Group II Amortized Subordinated Amount Requirement and (B) two times the excess of (x) one-half of the aggregate Loan Balances of all Mortgage Loans in Group II which are 90 or more days Delinquent (including REO Properties) over (y) five times the Group II 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 II Amortized Subordinated Amount Requirement and (B) two (2) times the Group II Amortized Subordinated Amount Requirement stated as a percentage of the Original Certificate Principal Balance of the Class A-2 Certificates times the current Class A-2 Certificate Principal Balance, (ii) two (2) time the excess of (A) one-half of the aggregate Loan Balances of all Mortgage Loans in Group II which are 90 or more days Delinquent (including REO Properties) over (B) three times the Group II Projected Net Monthly Excess Cashflow as of such Payment Date and (iii) an amount equal to 0.50% of the Group II 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 Group II Specified Subordinated Amount shall remain equal to the Group II Amortized Subordinated Amount Requirement.
Group II Specified Subordinated Amount. As defined in the Insurance Agreement.
Group II Specified Subordinated Amount. As defined in Exhibit L.
More Definitions of Group II Specified Subordinated Amount
Group II Specified Subordinated Amount. As such term is defined in the Insurance and Indemnity Agreements.
Group II Specified Subordinated Amount. With respect to Group II and any Distribution Date on which an Excess Spread Trigger has not occurred, an amount equal to (i) 3.25% of the related Original Aggregate Loan Balance, or (ii) if the Step-Up Trigger has occurred, an amount equal to 7.75% of the related Original Aggregate Loan Balance or (iii) if the Step-Up Trigger has not occurred but the StepDown Trigger has occurred, an amount equal to the greater of (a) .50% of the related Original Aggregate Loan Balances and (b) lesser of (x) 3.25% of the related Original Aggregate Loan Balance and (y) the Group II Stepped Down Required Subordinated Percentage of the aggregate Loan Balance of the related Mortgage Loans as of such Distribution Date. Notwithstanding the foregoing, if an Excess Spread Trigger has occurred, the Group II Specified Subordinate Amount for such Distribution Date shall be the sum of (a) the Group II Specified Subordinated Amount otherwise obtained hereunder and (b) the product of (i) three times the excess of (A) 300 basis points over (B) the Excess Spread Rate for such Distribution Date, and (ii) the related Original Aggregate Loan Balance.
Group II Specified Subordinated Amount. As defined in Exhibit M.
Group II Specified Subordinated Amount. With respect to each Distribution Date (i) , an amount equal to 0.50% of the aggregate Stated Principal Balance of the Group II Mortgage Loans as of the Cut-off Date. When the Class Certificate Balance of each Class of Group II Offered Certificates has been reduced to zero, the Group II Specified Subordinated Amount will thereafter equal zero.
Group II Specified Subordinated Amount. With respect to Group II and any Payment Date on which an Excess Spread Trigger has not occurred, an amount equal to (i) 3.50% of the Original Group II 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 II Mortgage Loans or (iii) if the Step-Up Trigger has not occurred but the StepDown Trigger has occurred, an amount equal to the greater of (a) 0.50% of the Original Group II Pool Principal Balance and (b) the Group II Stepped Down Required Subordinated Percentage of the aggregate Loan Balance of the related Mortgage Loans as of such Payment Date. Notwithstanding the foregoing, if an Excess Spread Trigger has occurred, the Group II Specified Subordinated Amount for such Payment Date shall be the sum of (a) the Group II Specified Subordinated Amount otherwise obtained hereunder and (b) the product of (i) three times the excess of (A) 300 basis points over (B) the weighted average Excess Spread Rate for the Group II Mortgage Loans for such Payment Date, and (ii) the Original Group II Pool Principal Balance.
Group II Specified Subordinated Amount for any Distribution Date occurring during the period commencing on the Closing Date and ending on the later of: