; (D) paragraph (5)(A) shall be applied by substituting paragraph (9) for paragraph (2) ; (E) paragraph (6) shall be applied— (i) in subparagraph (A)— (I) in the matter preceding clause (i), by substituting Any institution that has an adjusted cohort default rate that equals or exceeds 15 percent for After July 1, 1999, any institution that has a cohort default rate that equals or exceeds 25 percent ; and (II) in clause (i), by substituting has an adjusted cohort default rate that is less than 15% for by July 1, 2004, have a cohort default rate that is less than 25 percent ; and (ii) in subparagraph (B), by substituting has an adjusted cohort default rate that is less than 15% for by July 1, 2004, have a cohort default rate that is less than 25 percent ; (F) paragraph (7) shall be applied— (i) in subparagraph (A)(i)— (I) in the matter preceding subclause (I), by substituting adjusted cohort default rate is equal to or greater than 20 percent for cohort default rate is equal to or greater than the threshold percentage specified in paragraph (2)(B)(iv) ; and (II) in subclauses (I) and (II), by substituting adjusted cohort default rate for cohort default rate ; and (ii) in subparagraph (B)(i), by substituting adjusted cohort default rate is equal to or greater than 20 percent for cohort default rate is equal to or greater than the threshold percentage specified in paragraph (2)(B)(iv)